StockMarketWire.com - 1pm Plc said its trading results for H1 will show further growth in revenue and profits compared to the corresponding period last year.
The Group continues to experience high levels of demand for finance from SMEs.
The asset finance and loan portfolios have continued to grow, with over £6.8m of new business written during the first six months of the current trading year, representing a 36% increase compared with the first six months of last year (H1 2014: £5m).
This included record new business of over £1.5m in a single month, written during October 2014.
As at 30 November 2014, the combined asset finance and loan portfolio stood at £24.3m (H1 2014: £17.7m), an increase of over 37% since November last year and a 19% increase since the year-end in May (FY14: £20.4m).
Since 1 June 2014, 1pm has raised an additional £5.7m of debt funding. A further £3.8m of equity finance (net of expenses) was raised by means of a share placing at 61 pence per share in October, which brings the total amount raised during the first half of the current financial year to £9.5m (H1 2014: £4.9m).
The Group is also pleased to announce that it has relocated to larger premises within Bath. These premises will enable the Company to continue to expand its business and to recruit the additional staff required to meet its strategic aims over the next few years.
Story provided by StockMarketWire.com
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