Street Calls of the Week
LONDON - Time Finance plc, an AIM-listed independent specialist finance provider, reported a 30% increase in own-book lending origination to £28.5 million for the first quarter ended August 31, according to a press release statement issued Wednesday.
The company posted a 3% rise in revenue to £9.4 million and an 11% increase in profit before tax to £2.1 million compared to the same period last year. Profit before tax margin improved by 100 basis points to 22%.
Time Finance’s gross lending book grew 8% year-on-year to £221.1 million, marking seventeen consecutive quarters of growth. Net tangible assets rose 14% to £45.6 million.
The company maintained stable credit quality metrics, with net arrears unchanged at 5% of the gross lending book and net bad debt write-offs holding steady at 1% of the average gross lending book.
According to the statement, the firm has continued to focus on secured lending through its Invoice Finance division and the ’Hard’ subset of its Asset division, in line with its three-year strategic plan launched in January 2025. These two product categories now represent approximately 85% of the entire lending book, up from 76% a year earlier, and accounted for over 95% of new deals written in the quarter.
The board stated it expects trading for the current financial year ending May 31, 2026, to be at least in line with market expectations.
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