Time Finance plc (AIM: TIME), the independent specialist finance provider to UK SMEs, has published its audited final results for the year ended 31 May 2026, reporting revenue of £38.5m and profit before tax of £8.4m. The results arrive against the backdrop of a pending cash acquisition by Bentley Park (UK) Limited, the parent company of Ultimate Finance Group Limited, at 59.1 pence per share in cash. Shareholders approved the scheme of arrangement on 1 October 2026, though completion remains subject to FCA approval and Court sanction, making these the final standalone results the AIM-listed lender is likely to publish.

Key Points

  • Time Finance plc (AIM: TIME) — AIM-listed independent specialist SME finance provider offering Asset Finance, Invoice Finance, Commercial Loans and Asset Based Lending
  • Revenue rose 4% to £38.5m and profit before tax increased 6% to £8.4m for the year ended 31 May 2026
  • Own-book deal origination surged 29% to £124.1m; the lending book grew 16% to a record £251.0m
  • Investors should watch for FCA approval and the Court Sanction Hearing, which will determine whether the 59.1 pence per share Bentley Park acquisition completes

Time Finance Delivers Record £251m Lending Book and 29% Origination Growth in FY2025/26

The company's lending book reached £251.0m at 31 May 2026, up from £216.7m a year earlier, representing a 16% increase and what management describes as a record level. Own-book deal origination of £124.1m was 29% ahead of the prior year's £96.6m, with the announcement stating that 97% of all origination was funded on the company's own balance sheet. The Invoice Finance division achieved record live client numbers of 472, a 16% year-on-year increase, with funds in use reaching £83.2m, up 21%. Asset Finance new business origination also set a record at £75.5m, 24% ahead of the prior year, despite sector headwinds in transport-related lending.

Revenue Rises to £38.5m as Net Tangible Assets Strengthen to £50.2m

Time Finance reported total revenue of £38.5m for the year, compared with £37.1m in FY2024/25, while gross profit reached £22.6m against £22.0m previously. Operating profit was £8.7m and profit before income tax came in at £8.4m, up from £7.9m. Fully diluted earnings per share increased to 6.8 pence from 6.3 pence. Consolidated net tangible assets strengthened to £50.2m from £44.1m, a 14% improvement. Net cash and cash equivalents held at 31 May 2026 stood at £6.9m, against £5.0m a year earlier, while total active borrowing facilities amounted to £282m, of which £173m was drawn.

Bentley Park Cash Acquisition at 59.1p Per Share Awaits FCA and Court Approval

Bentley Park (UK) Limited announced a binding offer to acquire the entire issued share capital of Time Finance on 17 August 2026 at 59.1 pence per share in cash via a Court-sanctioned scheme of arrangement. The requisite shareholder majorities voted in favour at the Court Meeting and General Meeting held on 1 October 2026. The acquisition has not yet completed; it remains conditional on the FCA Condition being satisfied and the Court sanctioning the scheme at the Scheme Sanction Hearing. The announcement states that any updates to the timetable will be communicated via a Regulatory Information Service.

Credit Quality Remains Stable Despite Challenging Conditions for UK SMEs

Net arrears remained relatively stable at 4.8% of the gross lending book at 31 May 2026, compared with 4.6% a year earlier. Net bad debt write-offs were also broadly stable at 0.9% of the average lending book, against 1.0% in the prior year. Total provisions carried in the balance sheet at 31 May 2026 amounted to £3.7m, representing approximately 2% of the net lending portfolio. The announcement notes that over 93% of new business originated in the year was secured lending, backed by tangible assets, with the single largest client exposure representing less than 1.5% of the total gross lending book — a risk management metric investors in SME lenders typically monitor closely.