Time Finance has reported a 67% rise in profit before tax (PBT) to £2m and a 12% rise in revenue to £13.2m.
UK businesses and financial intermediaries benefit from a broad portfolio of financial solutions offered by Time Finance, including asset finance, invoice finance, business loans and asset based lending.
The continued expansion of its national business development team and senior leadership team has led to further growth in the amount of funding support delivered, as its combined lending book now reaches a record high of £153m, a 27% increase over the previous year.
Time Finance has invested in well-known and highly experienced leaders within its senior management team, including Steve Nichols as director of asset finance, Louise Ikonomides as head of business improvements, Paul Seddon as head of credit and Helen Wheeler as head of invoice finance operations.
Ed Rimmer, chief executive officer at Time Finance, said: “We’re pleased to head into the second half of our financial year with such positive momentum.
“These figures reflect the resilience of our offering, the strength of our lending model and business strategy.
“Our teams continue to react swiftly to the increased demand for finance, as businesses of all sizes turn to supportive funding solutions to tackle current economic challenges.
“Thanks to the drive, determination, and enthusiasm of our team we are in a strong position to increase the support we have available to UK businesses and our financial intermediary network.”
