1PM PLC AGM Statement (8356J)
August 13 2012 - 2:00AM
UK Regulatory
TIDMOPM
RNS Number : 8356J
1PM PLC
13 August 2012
For Immediate Release 13 August 2012
1pm plc
("1pm" or "the Company")
AGM Statement
1pm plc (AIM: OPM), the AIM listed specialist independent
provider of asset finance facilities to the SME sector, is pleased
to issue the following trading update ahead of its AGM which is due
to take place at 12.30 pm today in Bath.
Following the recent announcement of record trading results for
the financial year ended 31 May 2012, the Board is pleased to
report that the new financial year has started positively. Trading
in the first two months of the current year has been encouraging
with new business written since the year-end contributing to an
increase in the Company's lease portfolio of more than seven per
cent, which stood at GBP11.8m as at 31(st) July 2012 (31 May 2012:
GBP11m). The Company's continued profitability on a monthly basis
is also enabling it to re-invest surplus cash generated from day to
day trading back into the business further expanding the lease
portfolio.
1pm is also pleased to announce that the Board has increased its
lending facilities further through the agreement of a loan of
GBP500,000 on commercial terms from a private investor. The loan
will be used exclusively for the purpose of writing new leases.
Maria Hampton, Managing Director of 1pm, commented:
"Notwithstanding the challenging economic environment prevailing
in the UK, 1pm is continuing to grow. We believe we are very well
placed to maximise the opportunities presented to us to expand the
business in the current year and beyond. We expect to deliver
further growth in the size of our lease portfolio, helped by our
growing reputation both within the asset finance industry and
amongst our UK-wide customer base. We look forward to the outcome
for the current year with confidence."
For further information, please contact:
1pm plc
Mike Johnson, Chairman 0844 967 0944
Maria Hampton, Managing Director 0844 967 0944
WH Ireland (NOMAD)
Mike Coe
Marc Davies 0117 945 3470
Winningtons Financial PR 0117 985 8989
Paul Vann 07768 807 631
paul.vann@winningtons.co.uk
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 GBP1,000 to- GBP50,000 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
This information is provided by RNS
The company news service from the London Stock Exchange
END
AGMPTMJTMBBBTJT
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