Interim Results Very Good27 Jan 2026 07:50
· Own-Book New Business Origination up 48% to £62.6m (H1 2024/25: £42.2m)
· Gross lending book up 12% to a record £235.3m at 30 November 2025 (30 November 2024: £209.4m)
· Revenue up 4% to £18.8m (H1 2024/25: £18.1m)
· Profit before Tax ("PBT") up 10% to £4.3m (H1 2024/25: £3.9m)
· PBT margin improved by 1% to 23% (H1 2024/25: 22%)
· Earnings Per Share ("EPS") up 7% to 3.47 pence per share (H1 2024/25: 3.24 pence per share)
· Net Assets up 9% to £75.0m at 30 November 2025 (30 November 2024: £69.0m)
· Net Tangible Assets up 14% to £47.2m at 30 November 2025 (30 November 2024: £41.5m)
· Net deals in arrears fell to 4.5% of the gross lending book at 30 November 2025 (30 November 2024: 5.3%)
· Net Bad Debt Write-Offs fell to 1.0% of the average gross lending book at 30 November 2025 (30 November 2024: 1.2%)
· Unearned income up 13% to £29.6m at 30 November 2025 (30 November 2024: £26.1m), providing strong visibility of future earnings
· Secured Lending now makes up 87% of the total lending book, up from 77% at 30 November 2024
· Own-Book Origination accounted for 98% of all new deals written in the period (30 November 2024: 97%)
Great results from TIME and continuing in the right direction.