Time Finance accelerates profit growth
Time Finance is accelerating its growth and has revealed it should outperform expectations for the current financial year.
The Bath-based specialist business lender is now forecasting annual revenues of at least £35.1m and pre-tax profits of £7.2m.
It said the “positive momentum year-to-date includes record revenues, a lending book hitting new heights, and arrears remaining well under control”.
The AIM-listed business launched a four-year plan in 2021, when chief executive Ed Rimmer joined, and has been reaping the rewards of its success.
Time Finance’s share price has trebled in the past two years and last month reached a six-year high. The company will provide a more detailed update to the market just before Christmas.
