Business
2016 Interim Results
2016 Interim Results.
About this update from Time Finance Plc
[{"type":"text","content":"\n \nRNS Number : 9490M 1PM PLC 26 January 2016 \n\n \n \n \nFor Immediate Release 26th January 2016\n \n1pm plc\n (\"1pm\", the \"Group\" or the \"Company\")\n \nINTERIM RESULTS \nFOR THE SIX MONTHS ENDED 30th NOVEMBER 2015\n \nStrong trading momentum maintained; \nFurther profitable growth at both 1pm and newly-acquired Academy Leasing;\nAggregate Portfolio stood at £57m at period end; Earnings per share increased 54% \n \n1pm, the AIM listed independent specialist provider of finance facilities to the SME sector, announces Interim Results for the six month period ended 30th November 2015 which include a first contribution from Academy Leasing from 25th August 2015 to 30th November 2015. \n \nFinancial Highlights\n \n· Revenue for the period more than doubled to £5.25m (H1 2015: £2.56m);\n· Profit before tax more than doubled to £1.66m (H1 2015: £0.76m);\n· Earnings per share increased 52% to 2.91p (H1 2015: 1.91p);\n· Net receivables increased 135% to £47.94m (H1 2015: £20.42m);\n· Bad debt write-off in the period amounted to £0.16m, representing 0.28% of the total portfolio (H1 2015: £0.11m, representing 0.46% of the total portfolio)\n \nOperational Highlights\n \n· £12m acquisition of Academy Leasing successfully completed in August 2015, funded by a net £6.9m of new equity finance, £1m of vendor loan notes and issue of ordinary shares;\n· &nb...