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1PM sees FY adjusted pre-tax profit materially above market views

Fri, 08th Jul 2016 12:45

(ShareCast News) - Independent specialist finance provider 1PM says its group full-year adjusted pre-tax profit will be materially above current market views."The trading results for the year ended 31 May 2016 will show strong growth in revenue and profits compared with the prior year," said the company, which is focused on the SME sector."Revenue for the group will be in line with current market expectations and adjusted profit before tax for the group will be materially above current market expectations," it said.Trading subsidiaries 1pm, Academy and Bradgate had continued to experience high levels of demand for finance from the SME sector, the company said.This demand was across the range of products offered, being asset finance for 'hard' and 'soft' assets, business loans and vehicles broking.The company said the total value of asset finance and loan deals originated and funded by the group in the year to end-May totalled £31.0m."In addition, since their respective dates of acquisition Academy and Bradgate generated commission income from broking-on a further £7.8m of asset finance deals."At 12:41 BST, shares in 1PM were up 7.9% to 61.5p.
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10 Jun 2015 07:26

LONDON MORNING BRIEFING: Standard Chartered Up Ahead Of Osborne Speech

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10 Jun 2015 07:03

1pm Says Pretax Profit To Be Significantly Ahead Of Market Expectations

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23 Jan 2015 13:36

UK DIRECTOR DEALINGS SUMMARY: Shanta Gold Non-Executive Sells Stake

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22 Jan 2015 17:06

CORRECT: DIRECTOR DEALINGS: 1PM Non-Executive Director Increases Stake

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22 Jan 2015 16:12

DIRECTOR DEALINGS: IPM Non-Executive Director Increases Interest

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20 Jan 2015 08:27

1pm Reports Higher Profit As Transition Year Continues

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27 Oct 2014 10:05

Monday broker round-up UPDATE

Aquarius Platinum: Deutsche Bank shifts target price from 28p to 30p and maintains a buy recommendation. Dechra Pharmaceuticals: FinnCap ups target price from 800p to 840p and reiterates a buy recommendation. easyJet: Morgan Stanley moves target price from 1650p to 1665p leaving its overweight rati

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17 Oct 2014 13:56

1pm Raises Additional Funds To Write New Business

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22 Sep 2014 10:46

1pm Raising Up To GBP4.0 Million To Fund Growth As Profit Rises

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13 Jun 2014 09:23

Friday broker round-up UPDATE

African Minerals: Deutsche Bank reduces target price from 316p to 249p maintaining a buy recommendation. Atkins: Numis ups target price from 1650p to 1700p and keeps a buy recommendation. JP Morgan reduces target price from 1619p to 1548p and reiterates its overweight rating. Ferrexpo: Deutsche Ba

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12 Jun 2014 12:59

1pm to deliver results ahead of expectations

AIM-listed 1pm, a specialist financial provider to the small and medium enterprise (SME) sector, has said its results for the year ended May 31st will come in slightly ahead of market expectations. The year, which marks 1pm's fourth consecutive year of organic growth, saw continued strong demand f

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12 Jun 2014 11:19

1PM Rises As It Says Results Will Beat Market Expectations

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 o

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4 Jun 2014 09:55

1PM Gets GBP4 Million In Invoice Lending Funds For Small Businesses

LONDON (Alliance News) - 1PM PLC Wednesday said it has negotiated a total of GBP4 million of additional block discounting facilities, which it said it will use solely to write new business. Block discounting is a form of lending to companies secured against customer invoices. In a sta

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9 Apr 2014 11:34

UK MIDDAY BRIEFING: Evraz Jumps Despite Wider Loss

LONDON (Alliance News) - Evraz, the Russian steel maker part owned by Roman Abramovich, has seen its shares jump Wednesday, despite reporting a wider net loss for 2013 as cost cutting failed to offset a drop in revenues caused by lower steel prices.

Evraz reported a

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