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Well I use Stockopedia where they quote broker consensus forecasts. The figures for the next 2 years, from Stockopedia, taken after their mid March results are stated in my comment 21st March. These figures look great and I assume (and hope) that they have the Polish numbers factored in but I can’t be 100% sure.
Not new, its from the results announcement it mentioned approx 10 mill
Craig, are you referring to the comment mentioned in recent report (14th March) by Polish Authority is this a new announcement?
What’s everyone’s thoughts on the new regulations in Poland expected to reduce 10million from profit.
Hopefully we can make it back in other areas?!
Hopefully IPF share price will increase early this week on the run up to Thursday’s ex date.
Strong results from other finance related stocks (MFX and CMCX ) makes me think that the smaller financials are due a re rate -,companies posting great results on lowly PER’s can’t continue for ever. Value ‘outs’ as they say.
Fantastic new broker forecast figures here after the latest results. 20p eps for next year followed by 25p eps and 12.1p divi for the year after. That’s a PER under 5 and a prospective divi of 10.7%. Let’s hope this stays on track.
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.
Broker forecast eps for next year is £0.24. With a divi of 11p cover 1.85 times by earnings it’s yielding 9.82%.
What’s not to like?
The markets are obvieously non believeres here looking at various figures why are they non believer's anyone else know?
Glad to have ignored the pump for Vanquis. I said I’d leave well alone and it’s slumped 60% since. Phew.
In order for you to buy someone had to sell. The price you paid for it was nearer a sellers asking price than a buyers asking price, therefore its logged as a sell.
How is it possible to purchase shares and recorded as a sell?
Today at 11.50 I purchased 5000 shares and yet it 's recorded that I sold them. How is that possible when it's all computerised. Must be using the same computers that the Post Office use. Dodgy or what.
My old user name was TheProviVan.
I haven't put a post on here for some time, so I think it's time to update things. On 16th May 2023 I posted the comparison between IPF/Vanquis and that post was proven to be spot on. I don't consider that situation has changed much. PFG changed their name to Vanquis Bank and that doesn't mean their business is now in banking. They're still predominately a finance business. I have said many times that Vanquis has a problem with their credit card business and that still stands today. Vanquis card is the bread and butter bulk of their business and they are finding it difficult to grow. In fact the customer growth has been reducing over a few years now. They can say how many new customers they have put on but how many of those new customers actually use the card and each year the dead wood customers are growing. In other words the customer base taking off the dead wood has been decreasing year on year.
IPF is in a totally different situation and has a much greater potential to grow. Whereas Vanquis has been detracting IPF is expanding. The main areas that IPF needs to concentrate on is arrears, by keeping it under control and also grow the customer base in Mexico to exceed any customer loss in Poland. If they get the balance right, I cannot see any reason why IPF will not out perform Vanquis. Profit is one thing but without customer growth any business will gradually decline. I hope Vanquis can succeed in growing the business to an acceptable level but it's going to take at least two years IMO.
Little sign of that 150. resistance seems to be around 120. maybe a rise towards ex-div date?
I'm not interested in Vanquis, especially as the divi is forecast to be cut back to 1p next year. Leaving well alone!!
Interesting to compare the forecasts for Vanquis and IPF on Market Screener
They both look very undervalued
hxxps://www.marketscreener.com/quote/stock/INTERNATIONAL-PERSONAL-FI-4007183/finances/
It shows forecast eps for IPF of 18p in 2023, 21p in 2024, 28p in 2025
And forecast dividend of 10p, 11p, and 12p in 2025
The forecast eps for Vanquis is 42p in 2025
And the forecast dividend for Vanquis is 18p in 2025
hxxps://www.marketscreener.com/quote/stock/VANQUIS-BANKING-GROUP-PLC-9590111/finances/
So with the Vanquis share price now lower than IPF, Vanquis seems to offer a far better investment with a forecast PE of 2.5 in 2025, and a forecast dividend of nearly 17% in 2025
The forecast PE for IPF is over 4 in 2025, and a forecast dividend of 10% in 2025
So they both look like that they may be good investments, but Vanquis looks much better value than IPF now
Tree shake today and I'm stopped out. Getting sick of this market.
With the SP rising, divi increased and business picking up, hopefully this will head back towards £1.50 soon? Any thoughts?
Another good RNS today and as I have said all along this share keeps giving. I was prepared to sell today if the figures hadn't been favourable but now I'll stick around at least until the dividend.
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