Bath-based specialist lending group 1pm’s half-year sales have surged by more than 50% as demand for finance from small and medium-sized businesses continued to soar.
The acquisitive group, which achieved revenue growth of 52% to £7.99m in the six months to November 30 with pre-tax profits up 23% to £2.05m, said it continued to look for further takeover opportunities. 
The results consolidated the results for its core business 1pm, which trades as Onepm Finance, and its two acquisitions Academy Leasing and Bradgate Business Finance.
It said all three continued to experience high levels of demand for finance from the SME sector across its range of products including asset finance for ‘hard’ and ‘soft’ assets, business loans and vehicles broking.
Chairman John Newman said: “These interim results demonstrate the continuing trend of profitable organic growth at Onepm finance, the original company within the group and the anticipated strong growth from Academy and Bradgate, the acquired businesses.
“The board is committed to increasing shareholder value by delivering sustainable growth and is actively pursuing further organic and strategic opportunities in the current financial year. Accordingly, the board looks forward to the second half of the financial year with optimism and confidence.”
1pm took over Lancashire-based Academy Leasing, which provides equipment finance and equipment and vehicles brokering to the SME market, in 2015 and Bradgate Business Finance last year. Leicestershire-based Bradgate provides ‘hard’ asset finance to clients buying business critical equipment.
