Adam Davidson, CEO of Trident Royalties, discusses offtake milestones and catalysts to boost FY24. Watch the video here.
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Unlike ordinary shares, you pay the accrued interest when you buy bonds. There is therefore no benefit to buying shortly before the interest is due. In fact, there is a slight disadvantage because there is always a very small risk that the interest will not be paid for some reason. In the case of a maturing bond like IPF2, there may be beneficial terms to existing bondholders depending on how they choose to refinance.
I hold IPF2 and IPF3 and believe the risk/reward is attractive compared to alternatives, including IPF shares. Just my opinion.
Agree that cost of borrowing likely to increase. These bonds always looked quite attractive to me. General knowledge question actually, can you buy in towards the end of the period (the bond coming up to maturity) and still get the pay out?
Any views on the IPF2 bond that redeems at the end of this tear. Refinancing that looks tricky, ceryainly wont be at the existing 7.5% and the smaller one last year was at 12%…
To me, that is for sure. If they're sensible in their lending and keep the arrears under control. the growth potential in this company is vast. IMO the CEO is excellent and he has a good team behind him. If they get the balance right in Mexico , they can then expand into another country and do the identical thing all over again. The big plus with this company is, they don't have to worry about the destructible FCA.
Thanks I didn't know any of that. I think we're invested in the right side of the split
Provident Financial Group (PFG) just recently changed their name to Vanquis Bank. PFG expanded into Poland (Provident Polska) and then the company was split and IPF was born. That's why IPF in Poland is still called Provident.
I don't know Vanquis bank but i do know a lot of used car salesmen like a jag
I'm going to compare IPF to Vanquis Bank and see why investors prefer Vanquis rather than IPF. I'm using two second hand cars that are on the market as an example.
The Vanquis Jaguar compared to the IPF Mini. The Jaguar looks better than the Mini but you can't just go on looks.
Lets see what's under the bonnets. I am impressed, the Mini has a cooper S engine, and that's a plus I wasn't expecting. Now for the Jaguar, OMG it only has a 1300cc engine, no wonder it has hardly moved in the last three years. There's a brick behind the back wheel as the handbrake isn't working properly and it keeps rolling backwards. The owners tell me they have made lots of improvement but I just can't see where. Shame they didn't fix the handbrake. The performance is poor due to the engine cc size. Looks are deceptive, you need to delve deeper when buying into something. CC stands for customer count and their inability to increase it. Until they make the cc bigger, this Jaguar isn't going anywhere. So lets take a look at how positive they are about increasing the size of the cc. Look at their Annual Report and what Tracy the ICU nurse had to say, there's the answer. Signing up the spouse or partner to become another customer. the deceptive way to increase the cc. If anything changes in that household you double the problem with reduced or non payments. Also, part of the cc isn't working as these are credit card holders who don't use them. Vanquis you need new door customers, adding a twin carb is not the answer. Now lets look at the Mini cooper S. Strong cc and increasing. It can drive anywhere, unlike the Jaguar. It has driven into a new area of Mexico where the potential of increasing the cc is immense. This car is nippy and going places.
Investors don't be fooled by the look of the Jaguar, it might look attractive but it's the cc size of the engine that counts.
I did notice that and a UT was carried out at 8.05am setting the share price at £1. Then that single share was purchase and moved the share price up to 1.07p. In the last week the spread has been sensible but yesterday there was something wrong. Most of the sites showed the share price at £1 all day and it never moved. After 4pm a strange thing happened over 3k of shares were sold for £1 and the spread price was showing 1.03p to buy and 1.10p to sell, yes I have got that right, which was obviously wrong. What is clear to see, when the spread is wide the trades drop off. When the spread is reasonable a lot more trades take place.
Thatsa great rating of 200p ...but as a friend of mine, who used to work for a big investment company, told me.. " no one in investment companies...listens to ratings. They are just posted to get publicity " But on the conspiracy angle...yesterday ended at 107 and there was a 1 share deal at opening of just that price and today there was one of 1 share at 105 ...so let's see...i don't believe it BTW but it's an interesting coincidence if nothing else.
International Personal Finance plc ("IPF" or the "Group") is pleased to announce that it will host a webinar for investors and analysts featuring the Group's IPF Digital business on Wednesday 10 May at 14:00 BST (0900hrs ET / 1600hrs EET).
The briefing will be broadcast live from Tallinn in Estonia and hosted by CEO, Gerard Ryan and IPF Digital's General Manager, Povilas Girčys. Investors and analysts will have the opportunity to learn more about this profitable and highly scalable business which is meeting the needs of a growing number of underserved consumers who want affordable credit online and seamless interactions with their digital financial provider. The presentation will cover details of the customers served, key market trends, credit decisioning technology and how IPF Digital is successfully executing its growth strategy to realise future growth and returns.
No new financial information will be disclosed. The briefing, including a live Q&A, will last around 60 minutes and is open to investors and analysts. To register for the webinar, please contact rachel.moran@ipfin.co.uk
A recording of the event and presentation materials will be available on the Group's website shortly after the event at www.ipfin.co.uk
The spread puts me off
Enough is enough. When I saw the spread price this morning bid 92.20p and buy 99.80, a difference of 7.60p on an excellent Q1 trading update, it made no sense at all. The mms are now taking the p. Luckily the first two trades were buys but if they had been sells, God knows what the share price would have gone down to. The lunatics are running the asylum.
And another decent dividend announced in their AGM
Excellent, well played IPF
This remains one of the most unloved, and undervalued, companies on the FTSE
P/E of 4 for a highly profitable, growing, high yielding company is, quite frankly, bonkers
Q1 2023 Trading Update
Apr 27, 2023 / 12:00 AM UK time
It will be 94 today again based on the evidence
Well, well well 94p again. The market manipulators, sorry my mistake, I meant makers, are so predictable.
I'm monitoring it lol. 94 tomorrow I think too based on a UT at close today
Once again a UT at 8am this morning. What did Andy say. "The paranoid school of trading would say based on the 1 share trade that maybe the MMs have set the price at 94p". What's the closing price today, would you Adam and Eve it.
Coincidences can only happen so many times, then they become a probability. The probability is, I will keep that to myself but something isn't right here with the pricing and movement of these shares.
Yes Andy, exactly. Please take a look at the trades listed today, the three trades that took place at 12.13.32. The first showing a spread, bid 94p, ask 99.60p ( 5.60p) within a second the spread changed to, bid 93.20p, ask 94p (.80p). How on earth can a spread change by so much within a second? Again at 12.14.32, the four trades. The ask price goes up 4p and back down again within a second. From 12.34 to 12.37, thirteen trades took place and nine of those were for 3 share buys each time. What the heck is going on with these shares?
And look at the SP at close today..I'll be checking this theory again...or not
The paranoid school of trading would say based on the 1 share trade that maybe the MMs have set the price at 94p
There you have it in a nutshell. They carried out a UT at 8am this morning to set the share price. The share price was set at 98.20p. That's 4.20p higher than last nights close. This being the third time a UT has been carried out at 8am to set the share price and on each occasion the share price has gone up. Is it a coincidence a UT was done this morning after I pointed out an anomaly yesterday, no as it has happened three times now. IMO the market makers are sometimes setting the spread prices out of line with the actual share price.