Time Finance says its lending book has reached a record £236.4m after further growth in the third quarter, while nine-month revenue and profit before tax also hit new highs.
The AIM-listed specialist finance provider said unaudited revenue for the nine months to 28 February 2026 rose 4% to £28.3m, from £27.3m a year earlier, while profit before tax increased 5% to £6.2m from £5.9m.
Own-book lending origination was up 27% to £86.5m, compared with £69.3m in the same period last year. Net tangible assets rose 13% to £48.5m at 28 February 2026, while deferred income increased 10% to £29.1m, which the group said provides visibility over future earnings.
The company said gross lending-book growth had now continued for 19 consecutive quarters. The lending book stood at £236.4m at the end of February, up 12% from £210.2m a year earlier.
SECURED LENDING
Time Finance has continued to shift its business towards secured lending, chiefly through invoice finance and the hard asset element of asset finance. Those two areas accounted for 96% of new lending volume in the nine-month period, up from 91% a year earlier, and now make up 88% of the total lending book, compared with 81% at 28 February 2025.
Credit performance also improved over the period. Net arrears fell to 4.7% of the gross lending book from 5.3% a year earlier, while net bad debt write-offs improved to 1.0% of the average lending book from 1.3%.
The company said its full-year financial performance is expected to be in line with market guidance.
Ed Rimmer (pictured), Time Finance’s chief executive officer, said: “To be able to report all-time record nine-month Group Revenue and Profit Before Tax in what remain challenging macro-economic conditions is particularly pleasing.
“To have made these strides forward while maintaining robust credit criteria, as shown by the continued improvement in our arrears and our write-offs, is another key performance indicator that we feel underlines the robust nature of the business.
“As a result of all these factors, and as we near the end of the first year of our three-year growth strategy through to May 2028, the Board has confidence that the Group remains well placed to continue building long-term value for all our shareholders.”
