Alternative finance provider Time Finance has said its lending book is at an 鈥渁ll-time high鈥, driving a rise in revenue and profit.
In a set of results for the six months to the end of November, the AIM-listed company announced growth of more than a quarter, with gross lending of 拢152.7m - up from 拢120.5m for the same period a year earlier.
The Bath-based company's own-book lending accounted for 拢36.6m - also up more than 25% on last year鈥檚 拢28.9m.
The firm said a focus on larger deals sizes had yielded a 12% increase in revenue to 拢13.2m, with pre-tax profit up more than two thirds to 拢2m.
Net tangible assets on its books stood at 拢32.1m - up 8% on 拢29.6m for the first half of the previous financial year and 5% on the year-end position of 拢30.5m.
Bosses said 鈥渙ngoing positive trading momentum鈥 meant the group was 鈥渁t least in line鈥 to fulfil its full-year trading expectations for the current year.
Chief executive Ed Rimmer said: "Performance during the first half of the current financial year has been particularly pleasing, with the expected results for the first half now beginning to demonstrate the benefits of the group's own-book lending strategy and focus on core business to business activities introduced in June 2021.
鈥淲e continue to experience growing levels of demand for finance from 海角视频 businesses, who value our multi-product range of funding solutions and the quality of our people-focussed service levels.鈥
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