1pm, the AIM listed independent provider of finance to the SME sector, reported a 73% rise in pre-tax profits of £1.35m (1.71m) in its results up to 31 May this year.
The lessor said its revenues were up 35.6% to £4.2m compared to £3.1m from the year previously and it had raised £11.3m of new funding in comparison to £4.1m last year.
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The firms’ bad debts and provisions as a percentage of the portfolio stood at 6.6%, down slightly from 8.97% last year.
Ian Smith, non-executive chairman, said; "In the year to 31 May 2014 1pm has delivered strong results through its unwavering commitment to the SME sector at a time when other sources of finance for SME businesses remain difficult to source.
"Other factors include adherence to a rigorous underwriting process, the loyalty of a growing network of over 100 finance brokers and the hard work and dedication of the entire 1pm staff."
The firm hopes to raise £4m by the issuance of nearly five million shares in the company at 61 pence per share to raise £3m and a further issue of over 1.5 million shares at 61 pence per share to qualifying shareholders to raise up to £1.016m.
