Trading Update & Notice of Final Results

Time Finance PLC

03 May 2023

 

3 May 2023

Time Finance plc

("Time Finance", the "Group" or the "Company")

Trading Update and Notice of Final Results

Full-year results expected to be further ahead of current market expectations

Time Finance plc, the AIM listed independent specialist finance provider, is pleased to announce that trading for the full financial year to 31 May 2023 ("FY23") is expected to be ahead of the latest market expectations¹ as announced in its trading update of 8 March 2023. After 11 months of continued positive trading momentum, the Board is confident that FY23 revenue and profit before tax will now be not less than £26.7m and £4.0m respectively.

The Group will provide a full trading update for FY23 on Thursday 29 June 2023, prior to publication of the full, audited FY23 financial statements on Tuesday 26 September 2023.

1.     FY23 market expectations at time of announcement of £26.0m of revenue and £3.6m of PBT.

For further information, please contact:

Time Finance plc

Ed Rimmer, Chief Executive Officer                                                                                          01225 474230

James Roberts, Chief Financial Officer                                                                                     01225 474230

Cenkos (NOMAD)

Ben Jeynes / Max Gould (Corporate Finance)                                                                      0207 3978900

Michael Johnson / George Budd (Sales)

Walbrook PR                                                                                                                                       0207 9338780

Paul Vann /Joe Walker                                                                                                                    07768 807631

[e-mail]

About Time Finance:

Time Finance's core strategy is to provide the finance that UK SMEs require to fund their businesses. It offers a multi-product range concentrating on asset, loan and invoice finance. While focussed on being an 'own-book' lender, the Group does retain the ability to broke-on deals where appropriate, enabling it to optimize business levels through market and economic cycles.

More information is available on the Company website www.timefinance.com.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as amended by regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310. Upon the publication of this announcement via Regulatory Information Service, this inside information is now considered to be in the public domain.

 

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