1 pm plc
("1pm" or the "Company") Trading Update 10 April 2008 Further to the announcement on 20 March 2008, the board of 1pm plc, the AIM
quoted independent provider of asset finance facilities to the smaller business
community, is pleased to announce that it has secured a further £250,000 of
banking facilities from one of its existing lenders. In the past 6 weeks, total
banking facilities available to 1pm have increased by £750,000.
The value of business proposals received and accepted has increased
significantly during the second half of the current financial year. The
business processes in place means that is growing its "book" in a balanced and
risk averse manner, with care taken to ensure that 1pm is not over exposed to a
single borrower. 1pm focuses on providing funding to small businesses with a
proven payment history and are professionally controlled by experienced owner
managers who have a vested interest in success of the business.
Mike Johnson commented, "The credit crunch will, in my opinion, provide 1pm with
greater opportunities as traditional funding lines such as those provided by
banks for SME's are tightened. However, as always, the watchwords will be 'an
abundance of caution' when taking on new customers and with care and expertise
implicit, I believe we are well positioned to take advantage of the market
opportunities." Enquiries Mike Johnson, Chairman 1pm plc 08707 397 397 Ian Callaway, SVS Securities plc 0207 638 5600 Nick Harriss, Blomfield Corporate Finance 020 7512 0191 Shane Dolan, Biddicks 020 7448 1000
|