Trading Statement

RNS Number : 2064V

1PM PLC

11 December 2013

 



11 December 2013

1pm plc

("1pm", the "Group" or the "Company")

Pre-close trading update

1pm (AIM: OPM), the AIM listed specialist independent provider of finance facilities to the SME sector, is pleased to announce the following trading update ahead of the publication of its Interim results for the six months ended 30 November 2013, which are scheduled to be released during the week commencing 20 January 2014.

The Board expects to report significant revenue and profits growth for the first six months of the current financial year compared to the corresponding period last year.

The Group has continued to enjoy strong demand and has written over £5m of new business during the first six months of the current trading year, a 28 per cent. increase compared with the first six months of last year (H1 2013: £3.9m).The Group also experienced record new business of over £1m written during the month of October 2013.

As at 30 November 2013 the loan portfolio stood at £17.7m (H1 2013: £13.2m), an increase of over 34 per cent. since November last year and a 20 per cent. increase since the year-end in May (FY13: £14.8m).

Maria Hampton, CEO of 1pm, commented:

"The Board is delighted with the progress made in the year-to-date and is confident about the prospects for the second half and the outcome for the year as a whole".

For further information, please contact:

1pm plc	www.1pm.co.uk
Ron Russell, Chairman Maria Hampton, CEO	0844 967 0944 0844 967 0944
WH Ireland (NOMAD)	www.wh-ireland.co.uk
Mike Coe	0117 945 3470
Winningtons Financial PR	0117 985 8989
Paul Vann	07768 807 631
	[e-mail]

About 1pm:

The Company was admitted to AIM in August 2006.

1pm plc is an established independent finance company focused on providing SMEs with accessible funding to add value to their businesses.  All customers must have good credit histories and proven ability to repay their finance commitments.

1pm currently provides assets finance from £1,000 to £50,000 for a period of between 12 and 60 months and £1,000 to £15,000 for business loans (repaid over 3-36 months).

Mission Statement - 'Helping the UK economy grow by supporting SMEs'

You can find more information on the Company website www.1pm.co.uk

 

END

 

 

TSTLLFVRFDLILIV