Time Finance, a UK-based independent specialist finance provider, has raised its outlook for the 2024/2025 financial year (FY 2025), anticipating results that surpass market expectations.
This follows a period of sustained “positive trading momentum throughout the first nine months” of FY 2025.
In a statement released on London Stock Exchange, the specialist finance provider said: “This positive momentum year-to-date includes record revenues, fifteen consecutive quarters of lending book growth, and arrears remaining well controlled.”
The company plans to release its Q3 FY 2025 trading update on 25 March 2025.
The board now expects FY 2025 revenue and profit before tax to be at least £36m and £7.5m, respectively.
This is an upward revision from previous expectations of £35.1m in revenue and £7.2m in profit before tax, set in November 2024.
During the first six months of FY25 that ended on 30 November 2024, the company delivered a 16% increase in revenue, reaching £18.2m, compared with £15.7m in FY 2024. Profit before tax saw an even sharper rise, up 44% to £3.9m.
Time Finance’s revised outlook comes as its asset lending portfolio surpassed £100m for the first time.
As of 31 January 2025, the portfolio reached £103m, a 21% increase from the previous financial year-end and a 222% rise since the strategic growth plan’s launch in June 2021.
The consistent month-on-month growth of the hard asset lending portfolio over three and a half years illustrates Time Finance’s focus on expanding its own-book secured lending.
This growth is said to be integral to the company’s strategy of increasing its total lending book to over £300m by 2028.
The emphasis on secured lending has led to the combined hard asset and invoice finance books representing 80% of the group’s total lending portfolio as of 31 January 2025.
