Given that we have already seen a substantial rise in the last few days, the sp would have increased only if the update was significantly ahead instead of "slightly ahead of current market expectations". I have taken some off the table for now, but still have a nice position. Interesting months for us.
1pm plc (AIM: OPM), the AIM listed specialist independent provider of finance facilities to the SME sector, announces the following trading update ahead of the announcement of its final results for the year ended 31 May 2014 which is scheduled to be released on or around 11th September 2014.
The Company has enjoyed a fourth consecutive year of organic growth and expects to report results for the year ended 31 May 2014 which are slightly ahead of current market expectations. Demand for finance from SMEs remains strong and the lease and loan portfolios have continued to grow. At 31 May 2014, the total Portfolio stood at Â£20.4m, a 38% increase over last year (FY13: Â£14.8m).
Maria Hampton, CEO, commented:
"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."
Ian Smith, Chairman, added:
"1pm has experienced another very successful year. The Board is determined to build on the strength of its business model and to take maximum advantage of current market conditions and potential. The Board is currently in the process of developing and implementing a strategic plan to grow the business significantly over the next three years and views the future of the business with confidence."
Released update confirming the growth trend continues apace, with next results expected to be ahead of market expectations. The current re-rating appears fully justified, and the BofD hint at medium term aims to rapidly grow the business suggests this is one to tuck away longer term, especially if current economic recovery continues to establish itself.
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