Time Finance plc has reported a record lending book of £209.4m for the six months ended 30 November 2024.
The interim results showed a gross lending book of £209.4m, an 11% increase from £188.6m the previous year.
Revenue increased by 16% to £18.2m, up from £15.7m in the same period last year.
Profit before tax rose by 44% to £3.9m, with the profit margin improving to 21%.
Earnings per share grew by 39% to 3.24 pence, compared to 2.33 pence in the previous year. Net assets rose by 8% to £69.0m from £63.9m.
Net deals in arrears decreased to 5% of the lending book from 6% a year earlier, while bad debt write-offs remained stable at 1%.
Deferred income increased by 9% to £26.1m, providing strong visibility for future earnings.
Tanya Raynes, non-executive chair of Time Finance, said: “H12024/25 marks another period of strong financial performance and delivery against our strategic plan.
“Demand from UK SMEs remained robust helping drive the Lending Book to record highs and, while Revenues continue to grow, our focus on efficiencies has resulted in even more significant growth in both Profits and EPS.
Raynes added: “Net Tangible Assets are at record highs, and cash reserves and funding sources remain solid, while arrears and write-offs are well controlled.
“The Group remains in an excellent position to deliver further growth and increased value to our shareholders and we are pleased to launch the pillars of the Group’s updated corporate strategy targets in this regard.”
