Time Finance reports record lending book, fourteen consecutive quarters of growth

Time Finance plc (LON:TIME), the AIM listed independent specialist finance provider, has announced its unaudited interim results for the six-months ended 30 November 2024. The Results reflect continued strong demand from businesses across the UK for the range of alternative finance products offered by the Group.

Financial Highlights:

·      Revenue up 16% to £18.2m (H1 2023/24: £15.7m)

·      Profit before Tax (“PBT”) up 44% to £3.9m (H1 2023/24: £2.7m)

·      PBT margin improved to 21% (H1 2023/24: 17%)

·      Earnings Per Share (“EPS”) up 39% to 3.24 pence per share (H1 2023/24: 2.33 pence per share)

·      Net Assets up 8% to £69.0m at 30 November 2024 (30 November 2023: £63.9m)

·      Net Tangible Assets up 14% to £41.5m at 30 November 2024 (30 November 2023: £36.4m)

·      Gross lending book up 11% to a record £209.4m at 30 November 2024 (30 November 2023: £188.6m)

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