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1PM PLC (OPM)

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Monday 11 June, 2012

1PM PLC

Pre-Close Trading Update

RNS Number : 0495F
1PM PLC
11 June 2012
 



 

 

                                                                                                                                                               

For Immediate release                                                                                                                                   11th June 2012

1pm plc

("1pm" or "the Company")

 

Pre-close trading update

 

1pm plc (AIM: OPM), the AIM listed specialist independent provider of asset finance facilities to the SME sector, is pleased to announce the following trading update ahead of its final results for the year ended 31 May 2012 which are scheduled to be released on 16 July 2012.

 

The Company has achieved another year of growth and expects to report a significant improvement in its trading performance for the year ended 31 May 2012. Levels of new business written in May were in excess of £700,000, the highest monthly amount achieved by the Company to date.  The lease portfolio continues to grow and as at 31 May 2012 was £11.0m (FY11: £10.1m).

 

The year-end results are now expected to exceed market expectations.

 

Maria Hampton, Managing Director of 1pm, said:

"1pm's strategy is to provide support to SMEs across Great Britain and Northern Ireland, by offering access to funding which currently is not being provided by the mainstream banking sector. The success of this strategy is reflected in the Company's continued growth and confidence in the model is further evidenced by the agreement of a £2million 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."

 

For further information, please contact:

 

1pm plc


Mike Johnson, Chairman

Maria Hampton, Managing Director

0844 967 0944

0844 967 0944



WH Ireland (NOMAD)


Mike Coe

Marc Davies

0117 945 3470



Winningtons Financial PR

0117 985 8989

Paul Vann/Tom Cooper

07768 807 631


paul.vann@winningtons.co.uk

About 1pm:

1pm plc is an established independent asset 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 lends from £1,000 to- £50,000 for a period of between 12 and 60 months. The Company was admitted to AIM in August 2006.

 

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


This information is provided by RNS
The company news service from the London Stock Exchange
 
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