Ultimate Finance - the AIMlisted factoring and invoice discounting house - said it had reduced losses in the first half and forecast its first move into profit for 2005.
The Bristol-based company, which has a regional office in St Paul's Square, Birmingham, saw losses of £37,000 in the six months to December 31, compared with £166,000 for the same period last year.
Turnover increased from £554,000 to £992,000 in the same period.
Current performance is in line with expectations and the board said it looked forward to the future with confidence.
Brian Sumner, chief executive, said: "Our target market offers tremendous growth opportunities and we are well positioned to take maximum advantage."
The company, which purchases invoices from small to medium sized firms, also announced the appointment of a new financial director, Darren Newman.
Mr Newman has already served two years with the firm will now take control of financial activities.