Time Finance upgrades FY23/24 guidance

Time Finance plc (LON:TIME), the AIM listed independent specialist finance provider, has announced that it has continued to enjoy positive trading momentum throughout the first five months of the 2023/24 financial year and confirms that the Company will provide a scheduled trading update in respect of H1 2023/24 on 20 December 2023.

Given this positive momentum year-to-date, which includes the lending book reaching a record high of approximately £180 million as at 31 October 2023 and arrears remaining static despite the wider macro-economic environment, the Board now has increased confidence that Time Finance performance for the 2023/24 full-year will be ahead of current market expectations1. Profit before tax for the full year is now expected to be not less than £5.4m.

1.     FY2023/24 market expectations as at the date of this announcement of £30.1m of revenue and £5.0m of profit before tax.

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

Strengthening your business financial health

Managing a business’s finances can be challenging, especially when faced with financial difficulties that impact your credit score. A bad credit score can create obstacles in obtaining funding and increase borrowing costs. However, there are practical

Time Finance plc

Time Finance celebrates strong growth and positive forecasts

Time Finance, a specialist business lender based in Bath, is experiencing significant growth, with expectations to surpass financial targets for the current year. The company now anticipates achieving annual revenues of at least £35.1 million and

Time Finance plc

Time Finance anticipates stronger financial year ahead

Time Finance, a specialist finance provider listed on AIM, has announced its expectations for a stronger-than-anticipated performance for the full year. Over the first five months of the 2024/25 financial year, the company has reported consistent

Time Finance plc

Time Finance appoints Matt Heap as new Head of Credit

Time Finance has welcomed Matt Heap as the new Head of Credit within its Asset Finance division, bringing over two decades of experience in financial services. Matt’s background includes senior positions such as Business Manager at

Time Finance plc

UK budget changes target economic growth and business stability

This year’s Budget announcement has introduced several new measures that the Government hopes will rebuild public finances, create economic growth, and strengthen business foundations across the UK. Among the most notable shifts is a £40 billion