Time Finance Share News (TIME)

IN BRIEF: Time Finance agrees deal to extend existing finance facility

Time Finance PLC - finance provider to small and medium businesses - Agrees extension to its existing asset finance facility with the British Business Bank under its Enable funding programme. The current GBP35 million hard asset facility increases to GBP64 million and will also be available to fund the group's vendor finance offering. This facility, along with further recently renewed and enhanced facilities, provides over GBP40 million of new funding capacity. Increases total funding facilities available to over GBP200 million. Time Finance says demand for asset finance remains strong. Chief Financial Officer James Roberts says: "The enhanced facility will enable Time Finance to provide additional funding to UK SMEs for their business-critical equipment in one of our more secured and key strategic growth areas."

Time Finance expands its funding facilities

(Sharecast News) - Specialist finance provider Time Finance announced a significant expansion of its asset finance facility in collaboration with the British Business Bank on Wednesday, under its 'ENABLE' funding programme.

EARNINGS AND TRADING: Michelmersh profit up; Journeo wins bus deal

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on this week and Friday and not separately reported by Alliance News:

UK earnings, trading statements calendar - next 7 days

IN BRIEF: Time Finance says profit will outperform market expectations

Time Finance PLC - Bath, England-based finance provider to small and medium businesses - Notes continued sound demand from businesses across the UK for the range of alternative finance products that the company offers. Says positive trading momentum continued throughout December, January and February. Expects revenue in the current financial year ending May 31 to rise by at least 14% to GBP31.5 million from GBP27.6 million in financial 2023. Further, anticipates pretax profit to jump at least 37% to GBP5.7 million from GBP4.2 million a year prior, which it says is ahead of the latest market expectations of GBP30.8 million for revenue and GBP5.4 million for pretax profit.

EARNINGS: Ace Liberty swings to loss, CC Japan beats benchmark

(Alliance News) - The following is a round-up of earnings for London-listed companies, issued on Thursday and not separately reported by Alliance News:

UK earnings, trading statements calendar - next 7 days

EARNINGS AND TRADING: Time Finance revenue up; Libertine loss narrows

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

UK earnings, trading statements calendar - next 7 days

IN BRIEF: Time Finance shares jump as it celebrates strong trading

Time Finance PLC - Bath, England-based finance provider to small and medium businesses - Says it has continued to enjoy positive trading momentum during the first five months of the year ending May 31, 2024. This includes its lending book "reaching a record high" of approximately GBP180 million at October 31, while arrears have remained "static despite the wider macro-economic environment". Says it now has increased confidence that its performance for financial 2024 will be ahead of current market expectations, which forecast pretax profit of GBP5.0 million and revenue of GBP30.1 million. Specifically, it expects pretax profit of at least GBP5.4 million. In late September, Time Finance announced that pretax profit in the year ended May 31 surged to GBP4.2 million from GBP1.1 million the year before, while revenue increased 17% to GBP27.6 million from GBP23.6 million. This also surpassed the company's previous expectations.

UK shareholder meetings calendar - next 7 days

Director dealings: Time Finance director makes share purchase

(Sharecast News) - Time Finance revealed on Thursday that non-executive director Paul Hird had acquired 86,930 ordinary shares in the AIM-listed finance provider.

Time Finance full-year revenue and profit jump but no dividend yet

(Alliance News) - Time Finance PLC on Tuesday posted higher revenue and profit in its recent financial year and said it is trading in line with market expectations.

UK earnings, trading statements calendar - next 7 days

Director dealings: Time Finance non-exec invests, Liontrust directors exercise options

(Sharecast News) - Time Finance was among those on the list of director buys on Tuesday, after it disclosed a purchase made by a non-executive director.