1pm, the small ticket SME lessor, has posted strong results for
the year ending May 31 2009. Revenue at the AIM-listed lessor grew
by 75 percent to £1.4 million (€1.6 million) last year, while gross
profit grew 8 percent to £574,000.
In the year ending May 31 2009, 1pm grew its loan portfolio to
£7.2 million, a 57 percent rise on the previous year’s £4.6
million.
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These numbers were helped by the company raising £656,500 in a
placing in August 2008, followed by a further placing completed in
May this year, of £509,775.
“The current challenging economic environment has provided 1pm
with an attractive opportunity to build market share as the
availability of finance remains constrained for smaller UK
companies,” Mike Johnson, the company’s chairman, said.
“We remain confident in 1pm’s business in terms of strategy and
performance. Helped by the new capital raised during May, the
current year has commenced in line with management expectations,
and we are confident that it will deliver further progress,”
Johnson added.
Jason T Hesse
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