Time Finance plc (LON:TIME), the AIM listed specialist finance provider, has confirmed key dates in the Group’s 2024 financial calendar. The Company is also pleased to provide an update on trading during Q1 of the current financial year.
Notice of Results and Annual General Meeting
As announced on 27 June 2024, the Group is planning to publish its audited annual results for the year ended 31 May 2024 on Wednesday 25 September 2024. The Company will also provide an update in respect of trading in Q1 2024/25 at that time.
As communicated on 27 August 2024, the Company is proposing to hold its Annual General Meeting on Tuesday 5 November 2024. The notice convening the AGM will be published in due course.
Balance Sheet continues to strengthen in line with medium-term strategy
Trading in the current financial year has started strongly as the Group continues to deliver on its four-year medium-term plan that was first announced in June 2021. At 31 August 2024, the unaudited value of the Group’s Net Tangible Assets reached a record high standing in excess of £40m. Additionally, Time Finance achieved record monthly revenues during July 2024, and then again in August 2024, as it continues to benefit from the focus on own-book lending. Unaudited revenues during Q1 FY2025 were approximately 20% higher than the prior year equivalent (Q1 FY2024: £7.6m), providing significant confidence as to delivery of full year performance in line with market expectations. Fuller detail regarding all key metrics and performance during Q1 will be provided in the update being announced on 25 September.
