Onepm Finance (“Onepm”), the Bath-based business finance provider and asset-based funder, is pleased to report record revenues and continued profitability in the financial year to 31 May 2019 as part of the 1pm Group of companies.
The Group has achieved revenues of £31.8m, an increase of 6% from £30m in 2018 off the back of an 13% increase in new business originations to £161m. The firm also delivered record Profit before tax of £8m.
Contributing to the delivery of another successful year, Onepm has made a number of significant appointments in the year, including strengthening the leadership team with Carol Roberts as head of asset. The firm has also invested in expanding their sales presence to bring the firm’s range of flexible funding solutions to their broker communities and the UK SME market with the appointments of Stuart Berry as broker manager and Ian Kavanagh as business development manager.
The business also has benefitted from the Group’s investment in restructuring and strengthening their senior management teams. In the financial year the group has made several high-profile appointments including Lorraine Neyland as head of risk. With a focus on improving the use of technology in order to deliver simpler ways of doing business, David Jones was appointed as head of IT to support both the delivery of specialist products and bring greater benefits to all Group companies. Complementing this, the Group have been ‘highly commended’ for the Use of Technology for Service Excellence at the Leasing World Service Excellence Awards.
Commenting on Onepm’s performance, Carol Roberts, head of asset, said: “We are delighted to announce another successful financial year for Onepm as part of the 1pm Group. As we continue to strive to deliver a market-leading service for our clients and broker communities, our results are reflective of our commitment to evolve and grow to achieve this. The investments we have made in our people, our expanded product portfolio and in our digital capabilities continue to support this. As part of the Group, we are able to take advantage of market opportunities as they arise and support the UK SME population with a multi-product solution. We look forward to achieving the next stages of growth for the Group in the months to come”.
1pm’s strategy is to focus on providing or arranging the finance UK SMEs require to fund their businesses and arranging vehicle and property-backed finance for consumers. The multi-product range for SMEs includes asset, vehicle, loan and invoice finance facilities. The Group operates a “hybrid” lending and broking model enabling it to optimise business levels through market and economic cycles.
Ed Rimmer, chief operating officer, added: “In what has remained uncertain prevailing business conditions, we are delighted to be reporting continued year-on-year growth. The results demonstrate the strength of our market position, our multi-product offering and our flexible approach to providing British businesses with the finance solutions necessary for growth.”