1pm plc INTERIM CONSOLIDATED RESULTS

1pm plc INTERIM CONSOLIDATED RESULTS

The Board of 1pm, the AIM quoted independent provider of asset finance facilities to the SME sector, announces today its independently reviewed interim results for the six month period to 30 November 2011. 

Financial Highlights

  • Revenue for the period increased 31% to £1,151,331 (H1 2011: £880,175)
  • Profit before taxation increased 238% to £214,293 (H1 2011: £63,440)  (FY 2011: £202,330)
  • Earnings per share up 172% to 0.005p (H1 2011: 0.002p) (FY 2011: 0.005p)
  • Net receivables increased 14.6% to £9,856,426 (H1 2011: £8,599,435)
  • Total lease portfolio increased to £10.85 million (H1 2011: £9.19 million)

 

 

Operational Highlights

  • Bad debt provisions and write-offs as a percentage of the total lease portfolio has decreased further and now well below management expectations
  • Moved to new premises with enough capacity for medium-term growth expectations
  • New website launched disclosing preferred financial terms
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