Time Finance plc (LON:TIME), the AIM listed independent specialist finance provider, has announced that it has continued to enjoy positive trading momentum throughout the first five months of the 2023/24 financial year and confirms that the Company will provide a scheduled trading update in respect of H1 2023/24 on 20 December 2023.
Given this positive momentum year-to-date, which includes the lending book reaching a record high of approximately £180 million as at 31 October 2023 and arrears remaining static despite the wider macro-economic environment, the Board now has increased confidence that Time Finance performance for the 2023/24 full-year will be ahead of current market expectations1. Profit before tax for the full year is now expected to be not less than £5.4m.
1. FY2023/24 market expectations as at the date of this announcement of £30.1m of revenue and £5.0m of profit before tax.
