1pm's interim results are robust but slightly weaker than expected with revenues of £15.6m (-2% YoY) and adj EBIT of £3.2m (-21%). Originations growth remained healthy through difficult macro conditions, with the hybrid model allowing 1pm to generate income without taking on unnecessary risk. Consequently, in combination with the costs in running a long-term sustainable business, 1pm is encountering some profit headwinds. We have updated our forecasts accordingly. The shares remain materially un ....
15 Jan 2020
Cenkos: 1pm plc -- Sustainable business in difficult markets
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Cenkos: 1pm plc -- Sustainable business in difficult markets
Time Finance plc (TIME:LON) | 41.0 0.2 1.2% | Mkt Cap: 37.9m
- Published:
15 Jan 2020 -
Author:
Cavendish Research -
Pages:
8
1pm's interim results are robust but slightly weaker than expected with revenues of £15.6m (-2% YoY) and adj EBIT of £3.2m (-21%). Originations growth remained healthy through difficult macro conditions, with the hybrid model allowing 1pm to generate income without taking on unnecessary risk. Consequently, in combination with the costs in running a long-term sustainable business, 1pm is encountering some profit headwinds. We have updated our forecasts accordingly. The shares remain materially un ....