Full-year results expected to be further ahead of current market expectations
Time Finance plc, the AIM listed independent specialist finance provider, is pleased to announce that trading for the full financial year to 31 May 2023 ("FY23") is expected to be ahead of the latest market expectations1 as announced in its trading update of 8 March 2023. After 11 months of continued positive trading momentum, the Board is confident that FY23 revenue and profit before tax will now be not less than £26.7m and £4.0m respectively.
The Group will provide a full trading update for FY23 on Thursday 29 June 2023, prior to publication of the full, audited FY23 financial statements on Tuesday 26 September 2023.
About Time Finance:
Time Finance's core strategy is to provide the finance that UK SMEs require to fund their businesses. It offers a multi-product range 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.