Shares in 1pm, the Bath-based specialist funder, climbed strongly today after it said it is on target to achieve significant revenue and profits growth.
In a trading statement to the London Stock Exchange, the AIM market-listed firm also said it continued to enjoy strong demand, writing more than £5m of new business during the first six months of the current trading year – a 28% increase compared with same period last year.
The group, which provides asset-backed finance to smal firms, also wrote record new business of more than £1m written during October.
Its loan portfolio stood at £17.7m on November 30, an increase of more than 34% since November last year and a 20% increase since the year-end in May. In Octoner it expanded into the small business loans market. 
Chief executive Maria Hampton, pictured, said: “The board is delighted with the progress made in the year to date and is confident about the prospects for the second half and the outcome for the year as a whole.”
1pm issued the trading statement for the first six months of the current financial year ahead of the publication of its interim results for the six months to November 30 which are scheduled to be released during the week of January 20.
1pm’s shares stood at 43p earlier this afternoon – up 13.2% or 5p on the day.
