Time Finance reports continued positive trading progress

12th Nov 2024 16:30

(Sharecast News) - Time Finance announced continued positive trading momentum in the first five months of its 2025 financial year on Tuesday, driven by record revenues and a growing lending book.

The AIM-traded finance provider said it now expected its full-year results to exceed market expectations, forecasting revenues of at least £35.1m and profit before tax of no less than £7.2m, up from the previously-anticipated £34.5m in revenue and £6.9m in profit before tax.

It said the optimism was supported by controlled arrears levels, which remained low amidst the company's growth.

Time Finance said it would release a detailed trading update for the first half of the financial year on 29 December.

Its board said it was confident in the group's performance trajectory, and its ability to sustain the strong financial momentum seen so far this financial year.

At 1606 GMT, shares in Time Finance were up 12.4% at 59.01p.

Reporting by Josh White for Sharecast.com.