With a bit more buying pressure this should break 80p in the next couple of days, it can only be held back for so long. This should be over £1.00 by the end of the year, great company, great prospects.
LONDON (Alliance News) - 1PM PLC, the provider of finance for the small business sector, Thursday said it expects to report results for its last financial year that are slightly above current market expectations.
In a statement, the company said it had enjoyed a fourth consecutive year of organic growth in the 12 months to May 31, and its lease and loan portfolios have continued to grow. Its total portfolio stood at GBP20.4 million at the end of the year, up from GBP14.8 million a year earlier.
"The company has continued to make excellent progress and we are very pleased with the trading performance achieved over the past 12 months. The general improvement in business sentiment as the UK economy shows signs of recovery presents 1pm with an excellent opportunity to achieve sustained growth," Chief Executive Maria Hampton said.
Chairman Ian Smith added that the company is now developing a strategic plan to grow the business "significantly" over the next three years.
WH Ireland has forecast the company will post a pretax profit of GBP1.2 million for the year to end-May, 2014, according to data on Morningstar. The company reported a pretax profit of GBP775,000 in fiscal 2013.
1PM expects to put out its results for the last financial year on or around September 11.
maybe a couple of weeks unless any other news gets released re further funding or further news on expansion plans . I know they had been looking for a couple of years to buy some good loan books , but they were being very choosy and didn't want to over pay . Perhaps they have found a company to take over or merge with . Who knows , but that last RNS gave some very strong pointers that they intend to grow the company substantially over the next 3 years .
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