Time Finance plc, the AIM-listed specialist finance provider, has confirmed that the Group’s hard asset lending portfolio has surpassed £100 million for the first time. This milestone achievement follows a consistent 41-month period of growth in the portfolio, underscoring the company’s dedication to secured lending.
The hard asset lending portfolio has experienced an unbroken increase over three and a half years, reflecting Time Finance’s strategic focus on developing own-book secured lending. This key component aligns with the Group’s broader goal of expanding its overall lending book to over £300 million by 2028.
As of 31 January 2025, the unaudited value of the hard asset lending portfolio reached £103 million. This figure represents a 21% increase since the last financial year-end (31 May 2024: £85 million) and a striking 222% growth from its value at the commencement of the company’s growth strategy in June 2021 (31 May 2021: £32 million).
The surge in the hard asset lending book, combined with invoice finance lending, now constitutes 80% of the Group’s total overall lending portfolio as of 31 January 2025, compared to 75% at the previous financial year-end (31 May 2024) and 50% at the start of the growth strategy (31 May 2021).
Commenting on achieving this significant lending milestone, Chief Executive Ed Rimmer said: “Growing our lending book is one of the core pillars of our strategic plan and Hard Asset, alongside Invoice Finance, are the two key areas expected to drive this growth.
“To break through the £100m milestone in Hard Asset is an achievement we are very proud of, and it sets us on a firm footing to achieve our medium-term aim of growing the combined group lending book to £300m by the end of May 2028.”
The Group is set to release its Q3 Trading Update for the nine-month period from 1 June 2024 to 28 February 2025 on Tuesday, 25 March 2025.
