Time Finance reports Record Revenue and Profit Growth for FY 2023/24

Time Finance plc (LON:TIME), the AIM listed independent specialist finance provider, has issued the following trading update for the financial year ended 31 May 2024. In FY 2023/24, the Company delivered significant increases across its key performance indicators, with revenue and profitability ahead of market expectations.

The results reflect the continued success of the Company’s strategic focus on own-book lending to UK businesses. This approach has seen the Lending Book reach an all-time high of c£200m.

Unaudited financial highlights:

·   20% increase in Revenue to £33.0m (FY 2022/23: £27.6m)

·   38% increase in Profit Before Tax to £5.8m (FY 2022/23: £4.2m)

·   Own-Book deal origination up 25% to £91.5m (FY 2022/23: £73.4m)

·   Gross lending-book up 18% to £200m at 31 May 2024 (31 May 2023: £170m)

Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
X
LinkedIn
Time Finance plc

More articles like this

Time Finance plc

Business finance for entrepreneurial success

Business finance is a crucial aspect of running a successful company, yet many business owners wonder what it exactly entails. At its core, business finance involves managing a company’s financial resources to ensure ongoing growth and

Time Finance plc

The importance of Business Strategy

A business strategy typically serves as an outline detailing how a company plans to position itself, grow over time, and achieve its short-term and long-term objectives. It doesn’t always have to be a formal document, but

Time Finance plc

How to raise capital for business growth and success

Understanding how to raise capital can significantly impact a business’s success. Without the necessary funds, a company cannot grow or even begin its path towards success. Yet, many businesses struggle to identify the most suitable methods

Time Finance plc

Time Finance supports SMEs with new Growth Guarantee Scheme

SME business finance provider, Time Finance, has recently been accredited as a lender for the Government’s Growth Guarantee Scheme, expanding its offerings to include this initiative within its Asset Finance division. This scheme, launched in July