11
February 2025
Time Finance
plc
(the
"Group" or the "Company")
Lending Portfolio
Update
Notice of Q3 Trading
Update
Hard Asset lending book
breaks £100m milestone following 41 consecutive months of
growth
Time Finance plc, the AIM listed
independent specialist finance provider, is pleased to announce
that the Group's Hard Asset lending portfolio, the focus of the
Group's Asset Finance business, has reached an all-time record
high, exceeding £100 million for the first time.
The Hard Asset lending portfolio has
now increased in size month-on-month for three and a half years,
highlighting the Company's commitment to driving own-book secured
lending - a key pillar of the Group's stated strategy of growing
its overall lending book to over £300m in 2028.
As at 31 January 2025, the unaudited
value of the Group's Hard Asset lending portfolio reached £103
million, a 21% increase since the last financial year-end (31 May
2024: £85 million), and a 222% increase on its size at the launch
of the Company's growth strategy in June 2021 (31 May 2021: £32
million).
As a result, and reflecting the
focus on secured lending, the combined Hard Asset and Invoice
Finance lending books represent 80% of the Group's total overall
lending portfolio at 31 January 2025 (31 May 2024: 75%; 31 May
2021: 50%).
Notice of Q3 Trading Update
The Group is planning to publish its
Q3 Trading Update, reflecting the nine-month period from 1 June
2024 to 28 February 2025, on Tuesday 25 March 2025.
Commenting on achieving this significant lending milestone Ed
Rimmer, Chief Executive, said:
"Growing our lending book is one of the core pillars of our
strategic plan and Hard Asset, alongside Invoice Finance, are the
two key areas expected to drive this growth. To break through the
£100m milestone in Hard Asset is an achievement we are very proud
of, and it sets us on a firm footing to achieve our medium-term aim
of growing the combined group lending book to £300m by the end of
May 2028."
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For
further information, please contact:
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Time Finance plc
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Ed Rimmer, Chief Executive
Officer
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01225
474230
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James Roberts, Chief Financial
Officer
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Cavendish Capital Markets (NOMAD and
Broker)
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0207
220 0500
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Ben Jeynes / Dan Hodkinson (Corporate
Finance)
Michael Johnson / George Budd
/ Charlie Combe (Sales and ECM)
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Walbrook PR
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0207 933
8780
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Nick
Rome / Joe Walker
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Timefinance@walbrookpr.com
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About Time
Finance:
Time Finance's purpose is to help UK
businesses thrive and survive through the provision of flexible
funding facilities. It offers a multi-product range for SMEs
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