1pm plc (OPM) , the specialist finance provider for UK SME’s, issued a positive outlook statement ahead of its Annual General Meeting today.
Group's Non-Executive Chairman, John Newman mentioned that trading has experienced further growth, "with new business origination, revenue and profits 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.”
The company has had 6 acquisitions past 3 years – which has been driving strong strategic and organic growth in revenues and profits.
The acquisitions have allowed the company to become a leading multi-product provider, having diversified across both geographies and industry sectors.
He ended saying "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.”
It was revealed that 1pm’s interim results and a proposed interim dividend is to be announced in mid-January 2019.
Listen to more from Ian Smith, Chief Executive Officer of 1PM Group, on the Vox Markets Podcast
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