Time Finance PLC - Bath, England-based finance provider to small and medium businesses - Says it has continued to enjoy positive trading momentum during the first five months of the year ending May 31, 2024. This includes its lending book ‘reaching a record high’ of approximately £180 million at October 31, while arrears have remained ‘static despite the wider macro-economic environment’. Says it now has increased confidence that its performance for financial 2024 will be ahead of current market expectations, which forecast pretax profit of £5.0 million and revenue of £30.1 million. Specifically, it expects pretax profit of at least £5.4 million. In late September, Time Finance announced that pretax profit in the year ended May 31 surged to £4.2 million from £1.1 million the year before, while revenue increased 17% to £27.6 million from £23.6 million. This also surpassed the company’s previous expectations.

Current stock price: 31.89 pence, up 10.0% in London on Thursday afternoon

12-month change: up 96%

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