Time Finance sees profits soar by 35%

Bath-based alternative finance specialist Time Finance has seen its revenue increase by 19% from £13.2m to £15.7m.

In an update for the six-months ended 30 November the AIM-listed company said it is on track with its four-year strategic plan from June 2021 to May 2025 that focuses on growing its lending book to increase revenues.

The firm’s profit before tax also grew in this period by 35% to £2.7m from £2m for the same period last year. While its lending book grew by 11% to £188.5m since financial year-end and 23% from the same time last year.

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.

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