Specialist business lender Time Finance has achieved remarkable milestones, reporting a 44% surge in first-half profits. This achievement underscores the success of its long-term strategy to expand its lending book, solidifying the AIM-listed firm’s position as a key player in the industry.
Time Finance’s lending book has now delivered an extraordinary 14 consecutive quarters of growth, marking a sustained upward trajectory for the Bath-based firm. Chief Executive Ed Rimmer expressed strong confidence in the group’s ability to maintain this momentum, highlighting a strategic balance between expansion and credit quality. This discipline has enabled the company to set new benchmarks across its lending book, revenues, and profitability.
The results for the six months to November reveal pre-tax profits of £3.9m, a significant jump fuelled by a 16% rise in revenues to £18.2m. These figures reflect the robust foundations of Time Finance’s strategy, with a sharp focus on enhancing margins and maintaining a disciplined approach to credit risk. Both arrears and write-offs remain stable, underscoring the strength of its risk management framework.
The company’s exceptional performance is mirrored in its share price, which has soared 300% since October 2022. Investors are clearly recognising the value of Time Finance’s sustained growth and record-breaking achievements. With an unwavering commitment to delivering value and a clear focus on sustainable expansion, the firm is well-poised for continued success in the second half of the financial 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.
