Time Finance flags record first-half revenue, profits, lending growth

(Sharecast News) - Time Finance said in an update on Tuesday that it delivered record first-half revenues, profits and lending book growth, supported by strong demand across its multi-product funding offering and continued improvements in credit quality. The AIM-traded specialist finance provider said own-book new business origination rose 48% to £62m in the six months to 30 November, while the gross lending book increased 12% year on year to £235m, marking the 18th consecutive quarter of growth.

Revenue rose 3% to £18.8m and profit before tax increased 10% to £4.3m, lifting the profit before tax margin to 22% from 21% a year earlier.

Net tangible assets climbed 14% to £47.2m.

Time Finance said lending discipline continued to tighten alongside growth, with net arrears reducing to 4.5% of the gross lending book from 5.3% a year earlier, while net bad debt write-offs eased to 1.0% of the average gross lending book from 1.2%.

The group also reported record monthly volumes in both asset finance and invoice finance during the period, underpinning its expectation that full-year performance will be at least in line with market guidance.

The group said its strategic focus on secured lending remained central, with invoice finance and the "hard" subset of its asset finance division now accounting for around 87% of the total lending book, up from 78% 12 months earlier.

It said those products represented more than 98% of all new deals that originated in the first half.

"The first half of 2025-2026 has been really encouraging," said chief executive Ed Rimmer.

"Despite the wider macro-economic headwinds, the balance sheet has further strengthened with net tangible assets now in excess of £47m.

"At the same time the lending book has continued its consistent growth but, crucially, not at the expense of quality with arrears and write-offs continuing to improve."

He added that the business also managed to invest in its business improvement function, which drives operational efficiencies, while still achieving record six-monthly revenues and levels of profit before tax.

"The board, therefore, continues to remain confident that the group is well positioned for further growth and to build increased value for its shareholders over time."

Time Finance said it would publish its full unaudited interim results for the half year on 27 January and host a live investor presentation later that day.

At 1340 GMT, shares in Time Finance were down 4.61% at 51.99p.

Reporting by Josh White for Sharecast.com.