The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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To add to my last posts just reading an article in MoneyWeek ... one in eight British Adults have NO savings at all and UK consumer debt levels have risen for the last seven years... Expect a new debt boom now as locked down workers turn to even more credit .
Lignumvitae I suspect that most will be affected financially by Coronavirus but the high risk I think is what they call the middle income bracket generally up to there arm pits in heavy debt two cars on a PCP plan a maximum mortgage and living off credit cards and of course two holidays a year plus two kids... i don’t see the above your typical PF client but I reckon the less well off are used to managing there limited income better because they’ve had to ..the real shock are those living well beyond there means and we all know there’s plenty around in the UK.
Yes, Pooks. Divi cancelled but seems no salary sacrifice by the BOD. In fact looks like another load of share options has been doshed out. Provident's loan customers mainly operate Friday to Friday or month end to month end. Life is a struggle. Not apparently for the BOD. Call me cynical if you like but there seems to be an almost imperial lofty disdain here & it smells.
If a sense of normality doesn’t arrive soon most people out there can count them selves as sub prime.
This is the end of doorstep lending part of the business. poor people will accumulate even more debt
Coronavirus: Loan and credit card payments set to be frozen
https://www.bbc.co.uk/news/business-52132329
Totally agree, and the Board would have a bit more leeway regarding taking actions, but this is the Board that was brought in on the back of the doorstep lending part of the business being unable to collect - nearly 3 years ago. Where is the contingency plan that the 2017 failure should have created?
This Board has overseen a calamitous fall of share price, reputation and customer numbers and COVID 19 has shown that they have learnt or improved nothing. They have to go.
I don't know about the price that it may fall to but the difficulty in physically collecting will currently be a problem and the predicament of customers given reduced income/job losses/reduced economic activity will also be a negative.
The uncertainty about Covid and how long lock-down is to be in place is a major problem for everyone. For the sub-prime market that effect is magnified. For now its all about survival.
I’m a buyer at sub £1
Sorry my response was directed at Popples
Clearly you are an ex employee of PF so why on earth are spreading doom and gloom on this site if you own shares yourself looking back and reading your history of posts you obviously thought you were on a journey of riches ... But who ever you are people like myself and others who have supported PF through there troubles don’t need to listen to your cr..
Absolutely correct to cancel dividend .
I said so before the Coronavirus.
Time will tell.
Tick tock.
So will many other companies out there ... for what it is worth I believe it’s the right thing to do . From previous posts you obviously have a gripe to bear
I previously posted that dividend would be cancelled and SP would go under £1 and someone said I should be reported to the authorities.
I am 50% right so far.
I salute whoever it was that flagged this following NSF decision
Shares down 35 as I expect people have realised impact of Covid-19 is more than just the divi cut but at least £40m saving will protect cash
Sensible move
Dividend cancelled and home collections paused... just hope this is priced into current price otherwise will tank at open...