UK lessor 1pm plc has announced a record month
of new business to end a year of growth ahead of its final results
due 16 July.
The AIM-listed independent lender wrote more
than £700,000 of business in May and expects to announce “a
significant improvement” in trading exceeding market expectations
for the year ending 31 May 2012.
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1pm’s results for the
six months ending 30 November 2011 recorded a 238% year-on-year
increase, headlined by a pre-tax profit figure of £214,293.
The company’s revenue was up 31% year-on-year
in the same period and the lease portfolio grew from £9.2m to
£10.9m, which has risen to £11m as of 31 May.
Maria Hampton, managing director of 1pm, said
the imminent results demonstrate the success of the company’s
strategy to provide UK SMEs with funding not currently is available
through the mainstream banking sector and added confidence in 1pm
was further evidenced by the agreement of a £2m block discounting
facility announced in May.
“Recent marketing initiatives, designed to
increase lending levels, are proving to be very successful and have
been positively received by our industry partners. We will continue
to develop funding relationships to maximise lending opportunities”
Hampton said.
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By GlobalDatagrant.collinson@vrlfinancialnews.com
