21 Sep 2021
After solid results our Fair Value is at twice current level
FY21 results (to 31 May) are in line with expectations. While business volumes and revenue were hit by the pandemic slowdown, Time stayed profitable (unlike many other lenders) with cost cutting measures actually boosting margins, and the balance sheet remaining strong. New CEO Ed Rimmer has already started to lay the foundations for a return to growth, and is looking to double the size of the lending book over four years through organic growth.
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After solid results our Fair Value is at twice current level
Time Finance plc (TIME:LON) | 41.0 0 0.0% | Mkt Cap: 37.9m
- Published:
21 Sep 2021 -
Author:
Andy Edmond | Paul Bryant -
Pages:
12
FY21 results (to 31 May) are in line with expectations. While business volumes and revenue were hit by the pandemic slowdown, Time stayed profitable (unlike many other lenders) with cost cutting measures actually boosting margins, and the balance sheet remaining strong. New CEO Ed Rimmer has already started to lay the foundations for a return to growth, and is looking to double the size of the lending book over four years through organic growth.