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Share Price Information for 1pm (OPM)

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Share Price: 20.50
Bid: 20.00
Ask: 21.00
Change: 0.00 (0.00%)
Spread: 1.00 (5.00%)
Open: 20.50
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Low: 20.50
Yest. Close: 20.50
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1PM To Invest In Next Phase Of Growth As Annual Earnings Improve

Tue, 25th Jun 2019 10:53

(Alliance News) - 1PM PLC on Tuesday said it expects to have delivered mid-single-digit revenue and profit growth in its recently ended financial year despite "uncertain business conditions".

The stock was down 16% on Tuesday at 35.20 pence.

The AIM-listed finance provider said it expects to report year-on-year revenue and pretax profit growth of 6% to GBP31.8 million and 4% to GBP8.2 million, respectively, for the year that ended on May 31. In its financial 2018, 1PM recorded pretax profit of GBP7.9 million on revenue of GBP30.0 million.

Aggregate borrowing facilities as at May 31 were GBP167 million, 1PM said, an increase of 2% over the prior year. Net interest margin was maintained at 12% for the year.

The lending portfolio as at the end of May was GBP134 million, compared with GBP142 million in the prior year, with the decrease reflecting the increased proportion of origination brokered-on for commission income.

In January, the company announced strategic and operating growth plans in order to build a lending portfolio of GBP350 million by the end of 2024 financial year. These actions will result in additional costs being incurred in financial year 2020, some of which are non-recurring, 1PM noted.

"In current uncertain business conditions, we are delighted to be reporting year-on-year growth in revenue and underlying profit," said Chief Executive Ian Smith.

"We are determined to deliver our planned further strategic growth in order to increase shareholder value over the next five years and now is the time to lay the foundations for that further growth," added Smith.

1PM will announce its financial results for the year to the end of May on September 24.

More News

UK TRADING UPDATE SUMMARY: 1PM Unit Accredited As Lender Under CBILS

UK TRADING UPDATE SUMMARY: 1PM Unit Accredited As Lender Under CBILS

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1pm receives CBIL lender accreditation

(Sharecast News) - Business finance provider 1pm received accreditation as a lending partner under Downing Street's Coronavirus Business Interruption Loan Scheme on Tuesday.

5 May 20 09:52

UK EXECUTIVE CHANGE SUMMARY: 1pm Removes COO Role

UK EXECUTIVE CHANGE SUMMARY: 1pm Removes COO Role

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REPEAT: UK TRADING UPDATE SUMMARY: John Menzies Axes 17,500 Jobs

REPEAT: UK TRADING UPDATE SUMMARY: John Menzies Axes 17,500 Jobs

27 Mar 20 14:22

UK TRADING UPDATE SUMMARY: John Menzies Axes 17,500 Jobs Amid Covid-19

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27 Mar 20 14:03

UK TRADING UPDATE SUMMARY: Howden Joinery Suspends Payouts, Guidance

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26 Mar 20 17:44

1PM awaits more clarity on Covid-19 impact before deciding on dividend

(Sharecast News) - 1PM, a specialist provider of finance facilities to UK SMEs, said on Thursday that it will defer a decision on its final dividend until the market situation and effects of the coronavirus outbreak are clearer.

26 Mar 20 14:18

Finance provider 1pm increases finance facility with NatWest

(Sharecast News) - Specialist financial provider 1pm has further increased its back-to-back invoice finance funding facility with NatWest by an additional ?5m, it announced on Wednesday, to ?42m.

19 Feb 20 15:18

1PM Further Expands Funding Facility With NatWest To GBP42 Million

1PM Further Expands Funding Facility With NatWest To GBP42 Million

19 Feb 20 09:53

1PM Hikes Interim Dividend Despite Double-Digit Profit Decline

1PM Hikes Interim Dividend Despite Double-Digit Profit Decline

15 Jan 20 09:17

Revenue and earnings fall as 1pm talks up its 'resilience'

(Sharecast News) - Specialist finance provider 1pm announced its interim results on Wednesday, reporting a 7% improvement in deal origination to £87.8m, 65% of which was brokered to other lenders for commissions, up from 60% year-on-year.

15 Jan 20 09:13

SME borrowers to benefit from new and extended facilities, 1pm says

(Sharecast News) - Independent specialist finance provider 1pm has secured new and extended facilities to provide further funding for UK small to medium enterprises (SMEs), it announced on Tuesday.

26 Nov 19 14:11

1pm Increases Size Of Loan Note Programme To GBP25 Million

1pm Increases Size Of Loan Note Programme To GBP25 Million

26 Nov 19 13:54

UK Shareholder Meetings Calendar - Next 7 Days

UK Shareholder Meetings Calendar - Next 7 Days

30 Oct 19 16:10

1PM Raises Dividend After Achieving Record Full-Year Revenue

1PM Raises Dividend After Achieving Record Full-Year Revenue

25 Sep 19 11:49

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