Time Finance reports 34% jump in profit to £7.9m

Time Finance plc, the AIM-listed independent specialist finance provider, has delivered record results for the year ended 31 May 2025, with Profit Before Tax (PBT) rising 34% to £7.9 million compared to £5.9 million the previous year. Revenues also hit a high, climbing 12% to £37.1 million.

The results mark the conclusion of the Group’s four-year strategic plan, which has focused on strengthening its balance sheet, expanding its lending book and shifting towards secured lending. Over that period, the company’s lending book has grown from £113 million to £217 million, while Net Tangible Assets have risen from £29 million to £44 million.

Non-executive Chair Tanya Raynes said the performance underlines the resilience of the business despite wider economic uncertainty:

“Revenue, Profit Before Tax, and Earnings Per Share all saw double-digit growth, with PBT and EPS both showing growth in excess of 30%,” she commented. “The Balance Sheet has also continued to strengthen with the lending book and Net Tangible Assets hitting record highs, while arrears and write-offs remain controlled. As a result, the Group remains well positioned to continue to increase shareholder value.”

Operational progress during the year included growth in secured lending, with the Asset Finance division’s “Hard” subset rising 31% to £111 million and Invoice Finance up 8% to £70 million. Time Finance also launched a specialist Materials Handling team, provided its largest-ever client facility of £4.5 million, and continued active participation in the UK Government’s Growth Guarantee Scheme. At year-end, the Group had more than £85 million in available lending headroom from supportive funding partners.

Time Finance Chief Executive Officer Ed Rimmer said the business has been transformed during the strategic plan:

“Over the four-year period our Revenue has grown from £24 million to £37 million, PBT from £2 million to £8 million, and Net Tangible Assets from £29 million to £44 million. At the same time arrears have fallen from 12% to 5% and secured lending has moved from 52% to 83% of the total lending book. Our brand has continued to grow amongst our key introducer base, we have a highly capable and driven team, and the business has been simplified. We can now look forward to our new three-year plan through to May 2028 with great optimism.”

The Board confirmed that trading for the current financial year to 31 May 2026 is expected to be at least in line with market expectations.