1PM PLC AGM Statement (8303L)
August 16 2013 - 2:00AM
UK Regulatory
TIDMOPM
RNS Number : 8303L
1PM PLC
16 August 2013
16 August 2013
1pm plc
("1pm" or "the Company")
AGM Statement
"A Positive start to the New Financial Year"
1pm plc (AIM: OPM), the AIM listed specialist independent
provider of asset finance facilities to the SME sector, will hold
its AGM in Bath at 10.00am today. At the AGM, Chief Executive,
Maria Hampton will make the following statement to
shareholders:
"The results for the year ended 31 May 2013 demonstrated another
excellent year of organic growth with new business written, profits
before tax and earnings per share all achieving record levels.
"Taking into account the strong finish to the last financial
year, I am particularly pleased to report that in the first two
months of the current year your Company has again made a very
positive start. New business written since the year-end has
contributed to an increase in the Company's lease portfolio of more
than 5 per cent, which stood at GBP15.6m as at 31(st) July 2012 (31
May 2013: GBP14.8m). 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. Since the year-end, further
substantial capital has been raised for the business by way of a
new Block Discounting facility of GBP1.5m and a GBP1.5m Placing of
new Ordinary shares, subscribed by Henderson Global Investors, a
leading institutional investor.
Notwithstanding the challenging economic environment prevailing
in the UK, 1pm is continuing to grow. We believe that with the
continuing strong demand from the SME sector and our growing
reputation both within the asset finance industry and amongst our
UK wide customer base, we can view the current financial year with
considerable 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 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
AGMPAMATMBABBTJ
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