By Sabela Ojea
Time Finance PLC stated Thursday that it expects to report a lower in pretax revenue and income for fiscal 2022.
The AIM-listed supplier of finance to U.Ok. small-and-medium-sized enterprises stated that pretax revenue for the 12 months ended Could 31 is anticipated to fall to 1.1 million kilos ($1.3 million) in contrast with GBP2.0 million for a similar interval a 12 months earlier.
Income for the 12 months can be anticipated to fall 2% to GBP23.6 million, it added.
“The outcomes, whereas passable, replicate the natural progress we anticipated in relation to the business own-book lending, however are impacted by the continued underperformance of the non-core shopper brokerages and wider macro-economic headwinds,” the corporate stated.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix