1pm to deliver results ahead of expectations

12th Jun 2014 12:59

AIM-listed 1pm, a specialist financial provider to the small and medium enterprise (SME) sector, has said its results for the year ended May 31st will come in slightly ahead of market expectations. The year, which marks 1pm's fourth consecutive year of organic growth, saw continued strong demand for finance from SMEs, while the lease and loan portfolios continued to grow.At the year-end, the portfolio had a value of £20.4m, up 38% year-on-year. Chairman Ian Smith: "1pm has experienced another very successful year. The board is determined to build on the strength of its business model and to take maximum advantage of current market conditions and potential. "The board is currently in the process of developing and implementing a strategic plan to grow the business significantly over the next three years and views the future of the business with confidence." The share price climbed 0.6% to 83.50p. NR