- Gross lending book up 11 per cent to record £209mn
- Net tangible asset value up 14 per cent to £41.5mn (45p)
- First half pre-tax profit rises 44 per cent to £3.9mn
- Forward PE ratio of 10 and 1.2 times net tangible asset value
- Potential for another earnings upgrade
A trading update from Bath-based Time Finance (TIME: 61.5p) ahead of interim results on 28 January suggests that the ongoing earnings upgrade cycle has some way to run.
The provider of invoice finance, asset finance and loan finance to more than 10,000 small and medium-sized enterprises (SMEs) will report 44 per cent growth in pre-tax profit to £3.9mmn on 16 per cent higher revenue of £18.2mn in the six months to 30 November 2024. Analysts at house broker Cavendish believe that this “gives the company a good chance of outperforming our recently upgraded full-year pre-tax profit estimate of £7.2mn (up from £5.9mn in the prior year).”
