Look out for the Interim Results from this great little group – due on Wednesday 25th September.
This morning the group, which helps UK businesses to thrive and survive through the provision of flexible funding facilities, by offering a multi-product range for SMEs concentrating on Asset, Loan and Invoice Finance.
CEO Ed Rimmer stated that:
“Trading in the current financial year has started strongly as the Group continues to deliver on its four-year medium-term plan that was first announced in June 2021.
At 31 August 2024, the unaudited value of the Group's Net Tangible Assets reached a record high standing in excess of £40m.
Additionally, the Group achieved record monthly revenues during July 2024, and then again in August 2024, as it continues to benefit from the focus on own-book lending.
Unaudited revenues during Q1 FY2025 were approximately 20% higher than the prior year equivalent (Q1 FY2024: £7.6m), providing significant confidence as to delivery of full year performance in line with market expectations.
Fuller detail regarding all key metrics and performance during Q1 will be provided in the update being announced on 25 September.”
The group’s shares are currently trading at around the 50.5p level, capitalising the group at just £47m.
A very strong Hold.
(Profile 23.12.20 @ 21.5p set a Target Price of 30p*)
(Profile 07.01.22 @ 23.5p set a Target Price of 30p*)
(Profile 20.11.23 @ 32.5p set a target Price of 40p*)
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