London, July 5, 2026, 23:01 BST
- Markets in London were shut on Sunday. Time Finance finished Friday trading up 4.12% at 50.00p/51.00p, while the FTSE AIM All Share dropped 0.17%.
- The quoted market value was £46.3 million, or around 0.92x the company’s most recent unaudited net tangible assets of £50.1 million.
- Full-year revenue was up 4% at £38.5 million. Pretax profit climbed 6% to £8.4 million. Gross lending book increased 15% to £250.9 million.
- The next set date for the company is Sept. 23. That’s when it will release audited full-year 2025/26 numbers and its update for Q1 of 2026/27.
Time Finance plc (LON:TIME) picked up 2.00p, or 4.12%, on Friday to close the week ahead of the AIM index. The SME lender finished at 50.00p to sell and 51.00p to buy, according to AJ Bell, even as the FTSE AIM All Share slipped 0.17%. But the main number investors were watching is still on the balance sheet.
Even at that level, Time Finance is still trading below its last net tangible assets figure. AJ Bell pegged the company’s market cap at £46.3 million. Time Finance said its unaudited net tangible assets were £50.1 million as of May 31. That puts the price-to-NTA at around 0.92, despite a 15% jump in the lending book.
| Measure | Latest figure | What it says |
|---|---|---|
| Market value / net tangible assets | 0.92x | Stock is still under the last reported NTA |
| Market value / FY pretax profit | 5.5x | This uses the £46.3 mln cap and £8.4 mln profit before tax |
| Market value / gross lending book | 18.5% | Equity is low compared to book size |
| Friday share move vs AIM | +4.12% vs -0.17% | The shares outpaced the AIM index that day |
Investors relied on the June 25 full-year update last week. Time Finance reported own-book origination up 26% to £122.0 million. Revenue was up 4% at £38.5 million, and profit before tax gained 6% to reach £8.4 million for the year ended May 31.
| FY metric | FY 2025/26 | FY 2024/25 | Change |
|---|---|---|---|
| Own-book deal origination | £122.0 mln | £96.5 mln | up 26% |
| Gross lending book | £250.9 mln | £217.4 mln | rose 15% |
| Revenue | £38.5 mln | £37.1 mln | up 4% |
| Pretax profit | £8.4 mln | £7.9 mln | up 6% |
| Net arrears / gross book | 4.8% | 4.6% | up 20 bps |
| Net bad debt write-offs / average gross book | 0.9% | 1.0% | down 10 bps |
CEO Ed Rimmer said the year delivered “all-time high revenues, improved margins and record profits.” He also said the £250 million lending book level was hit “without the lowering of credit quality.” Investegate
Credit stats count here because the tangible asset discount isn’t just about growth. Time Finance is adding to its loan book, but investors still have to factor in arrears, funding costs, and liquidity for a small lender. Net arrears ticked up to 4.8% from 4.6%. Net bad debt write-offs dipped to 0.9% from 1.0%.
The shift in new lending makes the valuation gap stand out more. Time Finance reported that Invoice Finance and the “hard” part of Asset Finance accounted for over 95% of new lending in FY 2025/26, and made up more than 89% of its total lending book. Investors will be watching those numbers closely when arrears figures come next. Investegate
The company could handle more on its balance sheet if demand stays steady. Time Finance reported that as of May 31, it had over £80 million of funding headroom. That’s about 32% of its stated £250.9 million gross book, before factoring in repayments, fresh facilities, or other shifts.
No listed earnings reports are on the calendar for this week. Time Finance’s next set of audited full-year numbers and a Q1 update drops Sept. 23. The company aims to push its lending book above £300 million by the end of May 2028.
