Latest news with #RedSecurity
Yahoo
06-05-2025
- Business
- Yahoo
Time Finance reaffirms positive outlook for FY 2024-2025
AIM-listed Time Finance has reaffirmed that its financial performance for the financial year 2024-2025 is expected to be in line with current market expectations. In a filing to the London Stock Exchange, the company outlined its forthcoming financial reporting schedule for the year ending 31 May 2025, indicating a steady trajectory underpinned by solid trading momentum observed throughout the year. The company added that the strong performance seen in the first three quarters of the financial year continued through March and April 2025. This sustained momentum has been driven by consistent demand from UK businesses for its diverse funding solutions, the company said. As a result of the ongoing positive trading momentum, the board expressed confidence in the group's robust financial performance for the full year. Furthermore, Time Finance said it plans to issue a trading update for the financial year ending 31 May 2025 on 26 June 2025. The group will follow with the release of its full, audited final results and accompanying Annual Report and Financial Statements on 24 September 2025. It will also provide a trading update for the first quarter of FY 2025/2026 at that time. Time Finance provides flexible funding solutions to businesses across the UK. It offers a range of financial products tailored to small and medium-sized enterprises (SMEs), with a primary focus on asset finance and invoice finance. While the company mainly operates as an 'own-book' lender, it can also broker deals when suitable, allowing it to manage business volumes effectively across different markets and economic conditions. Last month, Time Finance provided a £500,000 ($664,850) asset-based finance facility to Red Security for expansion and acquisition. During the same time, the company also appointed Danielle Lynch as relationship manager within its Invoice Finance division. "Time Finance reaffirms positive outlook for FY 2024-2025" was originally created and published by Leasing Life, a GlobalData owned brand.
Yahoo
23-04-2025
- Business
- Yahoo
Time Finance delivers £500,000 lending package to Red Security
Time Finance has provided a £500,000 ($664,850) asset-based finance facility to Red Security for expansion and acquisition. The package, which includes a £425,000 disclosed invoice finance facility and a £75,000 refinanced asset finance facility, is designed to support Red Security's growth strategy, including potential business acquisitions and product line expansion. The asset-based lending solution will enable Red Security to enhance its Halo product line, which features AI and cloud-based security systems tailored for construction and rail sector clients. Time Finance said this financial backing allows the company to expand its technology and product offerings across the UK, responding to the rising demand for surveillance solutions and managing increased contract volumes. Red Security plans to use the invoice finance funding to optimise cashflow management as it takes on new business. The business also aims to build ten new bespoke Halo mobile CCTV towers, with ambitions to expand this to 50 units in the coming months, leveraging the specialist asset finance funding solution provided. Time Finance head of sales Andy Hume said: 'In times of uncertainty for many SMEs, I am thrilled that the Time Finance team and JKK12 brokerage have been able to facilitate this bespoke multi-product funding solution for Red Security, and help them grow their operations and product line. 'We know the pressures that businesses are facing right now, with rising overheads and a rumbling sense of apathy in the economy, but funding solutions such as this can act as a lifeline for those still seeking growth and opportunities. We look forward to seeing what Rob and his team can achieve with the additional headroom and investment potential in their assets.' Red Security managing director Rob Kennedy said: 'We have been operating from our base in the North West since 2012, and in that time, we have grown considerably, taking on new and exciting clients. When introduced to Time Finance through JKK12 brokerage, we had an existing invoice facility elsewhere to help us manage cash flow. 'But as we had grown and taken on a number of new clients, our current lender was not able to adapt to this, and we needed a new deal to help protect our cash flow and secure funds to invest in our developing product line.' Time Finance recently appointed Danielle Lynch as relationship manager within its invoice finance division. With more than 20 years of experience in financial services, Lynch previously worked as head of invoice finance at Funding Alternative Group and held roles at Bibby Financial Services, Scottish Pacific Business Finance, and Westminster National Finance Brokers. "Time Finance delivers £500,000 lending package to Red Security" was originally created and published by Leasing Life, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
