TIME FINANCE PLC

Management Reports • Jun 12, 2014

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RNS Number : 4901J

1PM PLC

12 June 2014

12 June 2014

1pm plc

("1pm" or "the Company")

Trading Update

1pm plc (AIM: OPM), the AIM listed specialist independent provider of finance facilities to the SME sector,  announces the following trading update ahead of the announcement of its final results for the year ended 31 May 2014 which is scheduled to be released on or around 11th September 2014.

The Company has enjoyed a fourth consecutive year of organic growth and expects to report results for the year ended 31 May 2014 which are slightly ahead of current market expectations.  Demand for finance from SMEs remains strong and the lease and loan portfolios have continued to grow. At 31 May 2014, the total Portfolio stood at £20.4m, a 38% increase over last year (FY13: £14.8m).

Maria Hampton, CEO, commented:

"The Company has continued to make excellent progress and we are very pleased with the trading performance achieved over the past 12 months. The general improvement in business sentiment as the UK economy shows signs of recovery presents 1pm with an excellent opportunity to achieve sustained growth."

Ian Smith, Chairman, added:

"1pm has experienced another very successful year. The Board is determined to build on the strength of its business model and to take maximum advantage of current market conditions and potential. The Board is currently in the process of developing and implementing a strategic plan to grow the business significantly over the next three years and views the future of the business with confidence." 

For further information, please contact:
1pm plc
Ian Smith, Chairman	0844 967 0944
Maria Hampton, CEO	0844 967 0944
WH Ireland (NOMAD)
Mike Coe / Ed Allsopp	0117 945 3470
Winningtons Financial PR	0117 985 8989
Paul Vann	07768 807631
	[email protected]

About 1pm:

At the second Annual Small Cap Awards held in May 2014, the Company won two awards including the most prestigious category "Company of the Year". Chief Executive, Maria Hampton and Finance Director, Helen Walker were also jointly awarded Small Cap Executive Director of the Year.

The Company was admitted to AIM in August 2006.

1pm plc is an established independent finance company focused on providing SMEs with accessible funding to add value to their businesses.  All customers must have good credit histories and proven ability to repay their finance commitments.

1pm currently provides assets finance from £1,000 to £50,000 for a period of between 12 and 60 months and £1,000 to £25,000 for business loans (repaid over 3-36 months).

Mission Statement - 'Helping the UK economy grow by supporting SMEs'

More information is available on the Company website www.1pm.co.uk

This information is provided by RNS

The company news service from the London Stock Exchange

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