OverviewSuggest Edit

Founded in 2000 and based in Bath, the Group was admitted to the Alternative Investment Market in August 2006. 1PM provides an invaluable service to the UK SME market by helping to fill the funding gap left by the UK banking industry. What does 1PM do? The majority of 1PM’s business is provided by UK finance brokers, who are members of the NACFB. All lending and borrowing is at a fixed rate throughout the term of the agreement. Before any lend facility is agreed, all SMEs and proprietors undergo a detailed credit check carried out by 1PM staff. They must have good credit histories and a proven ability to repay their finance commitments. 1PM strives to be a responsible lender and will not provide finance to customers who cannot demonstrate they have sufficient cash-flow to honour their loan commitment. Finance Leasing and Hire Purchase 1PM purchases a wide range of assets on behalf of its customers, costing from £1,000 up to a current maximum of £50,000 so exposure to one debtor is small compared with the overall portfolio; the assets are then leased back to customers over a fixed period of between 12 and 60 months. All assets leased must add value to the customer’s business. 1PM retains ownership of the asset until the final payment is received. The lending term for an asset is between 12 and 60 months, with a typical agreement lasting 3 ½ years. Business Loans This is a new product offered by 1PM to SME’s with loans of between £1,000 and £50,000 per customer. The loans are available for any purpose including working capital and cash-flow funding. The lending term for a loan is from 3 to 60 months.
TypePublic
Founded2000
HQBath, GB
Website1pm.co.uk

Latest Updates

Employees (est.) (Jan 2017)66
Revenue (FY, 2019)£31.8 M(+7%)
Share Price (Oct 2017)£0.5 (+2%)

Key People/Management at 1pm

Ian Smith

Ian Smith

CEO
Mike Nolan

Mike Nolan

Managing Director – Asset Finance
James Roberts

James Roberts

Chief Finance Officer
Ed Rimmer

Ed Rimmer

Managing Director – Commercial Finance
John Newman

John Newman

Non-Executive Chairman
Ron Russell

Ron Russell

Non-Executive Director
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1pm Office Locations

1pm has an office in Bath
Bath, GB (HQ)
2nd Floor, St James House, The Square, Lower Bristol Road
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1pm Financials and Metrics

1pm Revenue

1pm's revenue was reported to be £31.81 m in FY, 2019
GBP

Revenue (FY, 2019)

31.8m

Net income (FY, 2019)

6.4m

EBIT (FY, 2019)

8.0m

Market capitalization (31-Oct-2017)

26.5m

Closing stock price (31-Oct-2017)

0.5

Cash (31-May-2019)

1.9m

EV

28.4m
1pm's current market capitalization is £26.5 m.
GBPFY, 2016FY, 2017FY, 2018FY, 2019

Revenue

12.6m16.9m30.0m31.8m

Revenue growth, %

127%35%77%

Cost of goods sold

4.5m6.1m10.1m

Gross profit

8.1m10.9m19.9m
GBPFY, 2007FY, 2008FY, 2009FY, 2010FY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016FY, 2017FY, 2018FY, 2019

Cash

6.1k25.1k1.7k305.2k353.05.2k12.9k2.7k12.0k910.0k2.1m2.1m1.9m

Accounts Receivable

2.6m4.0m6.2m6.2m8.8m9.5m12.9m16.2m8.8m19.9m20.6m72.7m70.9m

Inventories

81.0k135.0k365.0k

Current Assets

2.8m4.4m7.1m6.9m9.3m10.1m12.9m17.3m10.5m23.9m26.2m78.4m76.3m
GBPFY, 2007FY, 2008FY, 2009FY, 2010FY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Net Income

(247.7k)56.7k3.1k(337.8k)154.2k348.4k603.1k1.0m1.3m2.9m3.3m6.4m

Cash From Operating Activities

430.7k828.2k(687.2k)(278.8k)(268.7k)(19.4k)(829.2k)(1.2m)(3.6m)(2.4m)6.3m(967.0k)

Dividends Paid

391.0k419.0k

Cash From Financing Activities

689.9k630.6k(551.1k)1.0m(34.9k)80.5k400.0k1.4m3.9m6.5m(434.0k)10.8m
GBPY, 2019

EV/EBIT

3.5 x

Financial Leverage

2.9 x
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1pm Online and Social Media Presence

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1pm News and Updates

Mizoram polls: 49% voter turnout recorded till 1pm

A voter turnout of 49 per cent has been recorded till 1 pm in the Mizoram Assembly elections being held on Wednesday.Voting in the single-phase polls began at 7 am and is scheduled to end at 4 pm.As many as 209 candidates are contesting to bag a seat in the 40-member Legislative Assembly. The Congre…

Valley gives cold shoulder to J-K civic polls; 6% turnout till 1pm

About six per cent of the electorate voted in the first six hours of polling in 83 wards of urban local bodies in militancy-wracked Kashmir Valley, where elections are being held amid tight security, officials said Monday. Voting for the first of the four-phased elections in the Valley began at 7 am…

A bomb exploded outside the US embassy in Beijing

An explosion occurred today outside the US embassy in Beijing. About an hour later, things were back to normal. According to the state-controlled Global Times…

The story of the Lehman Brothers collapse is about to hit the London stage in a 220-minute play

A new theatre production depicting the collapse of Lehman brothers at the start of the 2008 financial crisis is opening at The National Theatre in London. Ten years on from the crisis, the Lehman Trilogy directed by Sam Mendes, takes audiences on a journey from the foundation of Lehman Brothers to…

Fractyl Announces Presentation of Key Scientific Research at ADA 2018 Indicating That Modern Diets Durably Alter Duodenal Lining, Highlighting the Intestine's Role in Type 2 Diabetes and NASH

LEXINGTON, Mass. and ORLANDO, Fla., June 23, 2018 /PRNewswire/ -- Fractyl Laboratories Inc. (Fractyl) today announced the presentation of breakthrough research providing the first clear mechanistic link between modern diets and their causal effect on the pandemics of insulin resistance, ob...
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1pm Blogs

Gener8 Finance step up new business drive with Quick appointment

We are delighted to announce the appointment of Janice Quick as Business Development Manager in our Invoice Finance division. Janice will be responsible for building and maintaining strong relationships with introducers predominantly in the Midlands region as...

Ian Kavanagh appointed as Business Development Manager for the Asset division

We are thrilled to announce the appointment of Ian Kavanagh as Business Development Manager in our asset division. Ian will be responsible for building and maintaining strong relationships with intermediaries in the North of the country and...

1pm plc appoints Berry to drive expansion across the Broker market

1pm plc (“1pm”), one of the UK’s leading providers of equipment and vehicle finance has today announced the appointment of Stuart Berry as Broker Manager in their asset division.  Stuart will be responsible for managing and growing...

Tansy Cunningham (Battson) appointed as Head of Business at Gener8 Finance

Gener8 Finance (“Gener8”), the Oxfordshire-based independent invoice finance provider, is delighted to announce that it has promoted Tansy Cunningham (Battson) to the new role of Head of Business, effective as of 1 August 2019. Tansy will be...

The importance of reading the small print

A study by Nationwide Building Society revealed that two-thirds of people are guilty of skipping the small print. Perhaps unsurprising given how time-consuming it can be to read the full terms and conditions of contracts. However, the...

David Smith steps down from Positive Cashflow Finance

1pm plc (1pm), the AIM listed independent specialty finance provider has announced that David Smith, a member of the founding management team and currently Managing Director, of its wholly-owned subsidiary, Positive Cashflow Finance (Positive) has stated his...
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1pm Frequently Asked Questions

  • When was 1pm founded?

    1pm was founded in 2000.

  • Who are 1pm key executives?

    1pm's key executives are Ian Smith, Mike Nolan and James Roberts.

  • How many employees does 1pm have?

    1pm has 66 employees.

  • What is 1pm revenue?

    Latest 1pm annual revenue is £31.8 m.

  • What is 1pm revenue per employee?

    Latest 1pm revenue per employee is £482 k.

  • Who are 1pm competitors?

    Competitors of 1pm include iwoca, Texas Capital Bancshares and Secure Trust Bank.

  • Where is 1pm headquarters?

    1pm headquarters is located at 2nd Floor, St James House, The Square, Lower Bristol Road, Bath.

  • Where are 1pm offices?

    1pm has an office in Bath.

  • How many offices does 1pm have?

    1pm has 1 office.