5
March 2024
Time Finance
plc
(the "Group" or the
"Company")
NOTICE OF TRADING
UPDATE
Full Year results now
expected to be ahead of market expectations
Time
Finance plc, the AIM listed independent specialist finance
provider, announces that the Group will provide a detailed trading
update in respect of the financial year to 31 May
2024 ("FY24") on 26
March. The FY24 trading update will fully incorporate nine months
of Group trading to 29 February 2024.
With continued strong demand from
businesses across the UK for the range of alternative finance
products that the Group offers, and with positive trading momentum
continuing throughout December, January and February, the Board has
confidence that FY24 Revenue and Profit
Before Tax ("PBT") will now be not less than £31.5m and £5.7m
respectively, each ahead of latest
market expectations(1).
(1) Current market expectations
at the date of this announcement are of FY24 revenue of £30.8m and
FY24 PBT of £5.4m.
For
further information, please contact:
Time Finance plc
Ed Rimmer, Chief Executive Officer
01225 474230
James Roberts, Chief Financial
Officer
01225 474230
Cavendish Capital Markets (NOMAD)
Ben Jeynes / Dan Hodkinson
(Corporate Finance)
0207
2200500
Michael Johnson / George Budd /
Charlie Combe (Sales)
Walbrook PR
0207 9338780
Paul Vann /Joe Walker
07768
807631
timefinance@walbrookpr.com
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.
The information contained within this announcement is deemed
by the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 as amended by
regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations
2019/310. Upon the publication of this announcement via Regulatory
Information Service, this inside information is now considered to
be in the public domain.