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(Sharecast News) - Time Finance said on Wednesday that its lending portfolio reached a record 230m at the end of October, driven by strong growth across its asset and invoice finance divisions.
The AIM-traded specialist finance provider said the unaudited value of its loan book was up 6% from 217m at the end of May and 12% higher than the 205m reported a year earlier.
It said the increase marked another step toward its goal of growing its gross lending portfolio to 300m by May 2028.
The company said both of its key strategic growth areas - invoice finance and the "hard" asset finance segment - hit all-time highs.
It said its invoice finance book rose to more than 75m, up 13% year on year, while the hard asset finance subset climbed 28% to over 123m.
Combined, secured lending now accounts for more than 86% of the group's portfolio, also a record level.
Time Finance said the ongoing expansion of its lending book gave the board "increased confidence" that financial performance for the 2025-2026 financial year will be at least in line with current market expectations.
At 1452 GMT, shares in Time Finance were up 7.01% at 51.9p.
Reporting by Josh White for Sharecast.com.
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