1PM has established an enviable record of persistent growth. Strong trading momentum and high levels of demand mean that results for the half year to 30th November will again be ahead of management expectations. The results will include a contribution from Academy Leasing for the period from 25th August to 30th November which will themselves be ahead of management expectations at the the time of the acquisition.
The company is a specialist provider of finance facilities to the SME sector and its shares have added 9% today in response to the news update. The shares began 2015 at a price of 60p and then rose to 78p before falling back to 63p, followed by todays rise to 71p.
The half year saw £9.7m of new lease and HP contracts, up from £5.8m in 2014, plus a sixfold growth in business loans.
In the year to 31st May revenue was up by 31%, profit before tax by 20% and a maiden final dividend of 0.35p was approved. In the previous year revenue had risen by 35.6% and profit before tax by 73%.
The highest the shares have been was 84p in the summer of 2014.
Interim results are due to be announced in the week commencing 25th January.
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