Further growth in first four months at 1pm

Shareholders of specialist finance provider 1pm were told how trading in the first four months of the current financial year showed further growth over the same period last year, as they gathered for the annual general meeting on Thursday.

The AIM-traded firm’s non-executive chairman John Newman said new business origination, revenue and profits were all in line with the board's expectations for each of the group's operating divisions and, in aggregate, in line with market expectations.

“The continuing robust levels of demand experienced across the group reflect the board's strategy of being a multi-product provider of finance to UK SMEs - asset, vehicle, loan and invoice finance - and the effective, flexible business model of acting as both a funder and a broker,” Newman said.

“With early indications that the group's strong trading has been maintained in October, the board is optimistic of reporting further progress for the first half of the current financial year.”

1pm said its interim results and a proposed interim dividend would be announced in mid-January.