|
Time Finance PLC shares rose on Wednesday as it said its lending portfolio reached a record high of £230 million at the end of October. The Bath, England-based asset, loan and invoice finance provider for small and medium enterprises said the lending portfolio of £230 million is up 6.0% from £217 million at the end of May, and 12% higher than £205 million a year ago. As part of its three-year growth strategy, Time Finance has a target for its gross lending portfolio to reach £300 million by the end of May 2028. The Invoice Finance lending book is in excess of £75 million, up 13% from £66 million a year prior. The Hard subset of the Asset division exceeded £123 million, up 28% from £96 million. ‘This ongoing positive lending book growth provides the board with increased confidence that group financial performance for [financial 2026] will be at least in line with current market expectations,’ the company said. Shares in Time Finance jumped 11% to 53.90 pence on Wednesday afternoon in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
