1PM PLC Trading Statement (6945P)
June 10 2015 - 2:00AM
UK Regulatory
TIDMOPM
RNS Number : 6945P
1PM PLC
10 June 2015
10 June 2015
1pm plc
("1pm" or "the Company")
Trading Update
1pm plc (AIM: OPM), the AIM listed specialist independent
provider of finance facilities to the SME sector, is pleased to
announce the following Trading Update ahead of the publication of
its final results for the year ended 31 May 2015, which are
expected to be announced in the second half of July.
The Company has experienced a fifth consecutive year of strong
organic growth. The results for the year will show further
increases in both revenue and profits compared to last year with
profit before tax significantly above current market expectations
and revenues slightly above expectations, thanks to continuing
strong demand for finance from SMEs and lower costs than expected,
in particular in relation to bad debts. The asset finance and loan
portfolios have both continued to grow, with over GBP9.2m of new
business written during the second half (2014 H2:GBP5.7m), making
in aggregate GBP16.1m of new business written during the year as a
whole (2014: GBP10.8m). As at 31 May 2015, the total Portfolio
amounted to GBP30.0m which represents a 47% increase over last year
(FY14: GBP20.4m).
Ian Smith, Chairman, commented:
"This is a strong financial performance for the financial year
and all the more pleasing given that it has been a year of
investment for the future and expansion of resources. The
relocation to new offices is complete, recruitment is on-track and
additional expenditure has been incurred in business development.
All of these initiatives are beginning to yield anticipated growth,
as shown in the fact that new business origination of GBP5.5m over
the last quarter of the year was a record achievement."
For further information,
please contact:
1pm plc
Ian Smith, Chairman 0844 967 0944
Maria Lewis, CEO 0844 967 0944
WH Ireland (NOMAD)
Mike Coe / Ed Allsopp 0117 945 3470
Walbrook Public Relations 0117 985 8989
Paul Vann 07768 807631
paul.vann@walbrookpr.com
About 1pm:
The Company was admitted to AIM in August 2006.
1pm plc is an established independent 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 provides assets finance from GBP1,000 to GBP50,000
for a period of between 12 and 60 months and GBP1,000 to GBP50,000
for business loans (repaid over 3-36 months).
Mission Statement - 'Helping the UK economy grow by providing
finance to businesses'
More information is available on the Company website
www.1pm.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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