Time Finance PLC - Bath, England-based finance provider to small and medium businesses - Says it has continued to enjoy positive trading momentum during the first five months of the year ending May 31, 2024. This includes its lending book "reaching a record high" of approximately GBP180 million at October 31, while arrears have remained "static despite the wider macro-economic environment". Says it now has increased confidence that its performance for financial 2024 will be ahead of current market expectations, which forecast pretax profit of GBP5.0 million and revenue of GBP30.1 million. Specifically, it expects pretax profit of at least GBP5.4 million. In late September, Time Finance announced that pretax profit in the year ended May 31 surged to GBP4.2 million from GBP1.1 million the year before, while revenue increased 17% to GBP27.6 million from GBP23.6 million. This also surpassed the company's previous expectations.

Current stock price: 31.89 pence, up 10.0% in London on Thursday afternoon

12-month change: up 96%

By Emma Curzon, Alliance News reporter

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