- Third earnings upgrade since November 2023
- Profit expectations upgraded for 2024 and 2025 financial years
- Arrears and bad debts declining as percentage of loan book
- Forward PE ratio of 7 and 13 per cent discount to NAV
Time Finance (TIME:41p) has upgraded earnings guidance for the third time since November 2023 and prompted analysts to lift their estimates for both the 2024 and 2025 financial years, too.
The Bath-based group is an alternative provider of finance to the high street and challenger banks. Specifically, it provides three main finance products – invoice finance, asset finance and loan finance – to more than 10,000 small and medium-sized enterprises (SMEs) for their day-to-day working capital requirements and to grow their businesses over the longer term.