Time Finance PLC Trading Update (8675S)
09 Noviembre 2023 - 1:00AM
UK Regulatory
TIDMTIME
RNS Number : 8675S
Time Finance PLC
09 November 2023
09 November 2023
Time Finance plc
("Time Finance", the "Group" or the "Company")
Trading Update
Full-year results expected to be ahead of market
expectations
Time Finance plc, the AIM listed independent specialist finance
provider, announces 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 GBP180 million
as at 31 October 2023 and arrears remaining static despite the
wider macro-economic environment, the Board now has increased
confidence that Group performance for the 2023/24 full-year will be
ahead of current market expectations(1) . Profit before tax for the
full year is now expected to be not less than GBP5.4m.
1. FY2023/24 market expectations as at the date of this
announcement of GBP30.1m of revenue and GBP5.0m of profit before
tax.
For further information, please contact:
Time Finance plc
Ed Rimmer, Chief Executive Officer
01225 474230
James Roberts, Chief Financial Officer
01225 474230
Cavendish Securities plc (NOMAD and Broker)
Ben Jeynes / Dan Hodkinson (Corporate Finance) 0207 220 0500
Michael Johnson / George Budd / Charlie Combe (Sales and
ECM)
Walbrook PR
0207 933 8780
Paul Vann / Joe Walker
07768 807631
timefinance@walbrookpr.com
This announcement contains inside information.
About Time Finance :
Time Finance's purpose is to help UK businesses thrive and
survive through the provision of flexible funding facilities. It
offers a multi-product range for SMEs concentrating on asset, loan
and invoice finance. While focussed on being an 'own-book' lender,
the Group does retain the ability to broke-on deals where
appropriate, enabling it to optimize business levels through market
and economic cycles.
More information is available on the Company website:
www.timefinance.com .
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END
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(END) Dow Jones Newswires
November 09, 2023 02:00 ET (07:00 GMT)
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