08 Mar 2023
Cenkos: Time Finance plc -- A New Quarter, a New Upgrade
Time Finance has released a positive Q3/23A update for the period ending 28 February 2023. It follows a strong first half and shows continued momentum in the business. We are upgrading our FY23E revenue forecasts from £25.7m to £26m and FY23E PBT from £3.2m to £3.6m. Time's valuation looks deeply discounted on an FY24E P/E ratio of 5.8x and P/TNAV of 0.6x. We expect a material re-rating as management continue to deliver profitable growth and we believe upside risks to forecasts remain dominant.
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Cenkos: Time Finance plc -- A New Quarter, a New Upgrade
Time Finance plc (TIME:LON) | 41.0 0 0.0% | Mkt Cap: 37.9m
- Published:
08 Mar 2023 -
Author:
Andrew Renton -
Pages:
6
Time Finance has released a positive Q3/23A update for the period ending 28 February 2023. It follows a strong first half and shows continued momentum in the business. We are upgrading our FY23E revenue forecasts from £25.7m to £26m and FY23E PBT from £3.2m to £3.6m. Time's valuation looks deeply discounted on an FY24E P/E ratio of 5.8x and P/TNAV of 0.6x. We expect a material re-rating as management continue to deliver profitable growth and we believe upside risks to forecasts remain dominant.