Time Finance, an AIM-listed finance provider, has reported a strong start to trading for the current year. In a recent trading update for the first quarter, the company stated that it remains on track with its four-year medium-term plan, which was initially announced in June 2021.
The business highlighted that its balance sheet continues to grow in alignment with its strategic goals. As of 31 August 2024, the unaudited value of the company’s Net Tangible Assets surpassed £40 million, reaching a record high.
July and August 2024 also saw record monthly revenues, reflecting the benefits of the company’s focus on own-book lending. Revenues for the first quarter of FY2025 were approximately 20% higher compared to the equivalent period last year, where revenues were £7.6 million.
The company noted that this revenue growth gives them strong confidence in meeting full-year performance expectations in line with market forecasts. Time Finance is set to release its audited annual results for the year ending 31 May 2024 on 25 September 2024.
With its head office in Bath, the company also operates from additional offices in Reading, Manchester, and Warrington.
Time Finance plc (LON:TIME) is an AIM-listed business specialising in the provision or arrangement of funding solutions to UK businesses seeking to access the finance they need to realise their growth plans. Time Finance can fund businesses or arrange funding with their trusted partners through Asset Finance, Invoice Finance, Business Loans, Vehicle Finance or Asset Based Lending.