1pm hikes pre-tax profit, announces first final dividend

24th Jul 2015 14:15

(ShareCast News) - Finance firm 1pm announced a maiden dividend as it reported a 20% hike in pre-tax profits for the year.The AIM listed company, which lends money to SMEs, posted pre-tax up a fifth to £1.62m, from £1.35m the year before.Revenues were up 31% to £5.5m from £4.2m, off a record 49% increase in new business to a record £16.1m, from £10.8m.1pm's proposed maiden dividend was 0.35p per share.Chief executive Maria Lewis said the result exceeded market expectations and the board was confident new business would continue to increase over the next year."The board remains focussed both on organic growth, including the introduction of new financial products, and potential merger and acquisition opportunities as they arise," Lewis said in a statement.Shares in 1pm were down 2.64% to 68.15p at 1302 BST.