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25 Sep 2019
1 PM - Safety in numbers
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1 PM - Safety in numbers
Time Finance plc (TIME:LON) | 39.8 0.1 0.6% | Mkt Cap: 36.8m
- Published:
25 Sep 2019 -
Author:
Cavendish Research -
Pages:
3
1pm’s results for the year ended 31 May 2019 underlined the group’s strong and flexible revenue model within which loans can either be directly underwritten on the group’s own balance sheet or brokered on. The sustained margin and stable impairments in 2019 give us increasing confidence in next year’s revenue, so despite lifting cost estimates slightly to reflect the planned investments in people and business infrastructure in the current year, we lift our EPS estimates by around 2% for the coming 3 years. We maintain our 60p target price and Buy recommendation.