Time Finance PLC - Bath, England-based asset, loan and invoice finance provider for small and medium enterprises - Pretax profit jumps 44% to £3.9 million in the six months to November 30, from £2.7 million a year ago. Revenue climbs 16% to £18.2 million from £15.7 million. The company will release its full interim results on January 28.

Chief Executive Officer Ed Rimmer says: ‘The board are very encouraged by the performance in the first half of the current financial year. In line with our strategy, we have continued to increase the size of our lending book and, crucially, have done so without compromising on credit quality. This is borne out by the stable nature of both our arrears and our write-offs. This approach, combined with a renewed focus on margins, has led to significant increases in both revenues and profitability, both of which are record figures for the first half of a financial year. We have real confidence that the group is well placed to continue on this growth trajectory, building long-term value for our shareholders, and I look forward to updating our shareholders on our future strategy through to May 2028 in Q1 of 2025.’

Current stock price: 60.50 pence each, closed 0.8% higher on Thursday in London

12-month change: up 75%

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