TIME Time Finance Plc

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) Dow Jones Newswires

November 09, 2023 02:00 ET (07:00 GMT)

Time Finance (LSE:TIME)
Gráfica de Acción Histórica
De Abr 2024 a May 2024

Time Finance (LSE:TIME)
Gráfica de Acción Histórica
De May 2023 a May 2024