Pre-Close Trading Update

RNS Number : 0495F

1PM PLC

11 June 2012

 



For Immediate release                                                                                                                                   11^th June 2012

1pm plc

("1pm" or "the Company")

Pre-close trading update

1pm plc (AIM: OPM), the AIM listed specialist independent provider of asset finance facilities to the SME sector, is pleased to announce the following trading update ahead of its final results for the year ended 31 May 2012 which are scheduled to be released on 16 July 2012.

The Company has achieved another year of growth and expects to report a significant improvement in its trading performance for the year ended 31 May 2012. Levels of new business written in May were in excess of £700,000, the highest monthly amount achieved by the Company to date.  The lease portfolio continues to grow and as at 31 May 2012 was £11.0m (FY11: £10.1m).

The year-end results are now expected to exceed market expectations.

Maria Hampton, Managing Director of 1pm, said:

"1pm's strategy is to provide support to SMEs across Great Britain and Northern Ireland, by offering access to funding which currently is not being provided by the mainstream banking sector. The success of this strategy is reflected in the Company's continued growth and confidence in the model is further evidenced by the agreement of a £2million Block Discounting facility announced in May.

Recent marketing initiatives, designed to increase lending levels, are proving to be very successful and have been positively received by our industry partners. We will continue to develop funding relationships to maximise lending opportunities."

For further information, please contact:

1pm plc
Mike Johnson, Chairman Maria Hampton, Managing Director	0844 967 0944 0844 967 0944
WH Ireland (NOMAD)
Mike Coe Marc Davies	0117 945 3470
Winningtons Financial PR	0117 985 8989
Paul Vann/Tom Cooper	07768 807 631
	[e-mail]

About 1pm:

1pm plc is an established independent asset finance company focused on providing SMEs with accessible funding to add value to their businesses.  All customers must have good credit histories and proven ability to repay their finance commitments. 1pm currently lends from £1,000 to- £50,000 for a period of between 12 and 60 months. The Company was admitted to AIM in August 2006.

You can find more information on the Company website www.1pm.co.uk 

 

END

 

 

TSTUROURUSANAUR