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Filling vacancies from leavers not expansion. Hopefully not experienced staff as quite a high overall percentage
32 Customer Account Manager jobs advertised nationally with everyday loans. Business may be picking up well.
Zzzzz
Some rather chunky buys going through. Good to see.
Next week.will be very interesting!
There are some Buys today. I have absolutely no idea why.
Hold soon to go up following amigo. Worth more investment
Amigo flying again today +20% and IMO NSF is a far safer bet. I guess AMIGO is more visible though.
That dilution to come is main reason I'm out for a few weeks already
the numbers are better than expected, we still have good business in EL and normal one in HC.
the mcap is too low, mainly due to the RI, we do not know what price it will be and how much dilution it could cause, IMHV.
K3 - Pleased to hear that you are impressed by these results. What do you like?
The balance sheet position is pretty much where I expected it to be. But revenues from Everyday
Loans is disappointing at £40m. However, you have to remember that for two of the six months we were in lockdown.
Much better than I expected.
Nostra - it's good to read your positive take on things at NSF.
You are definitely right that Everyday Loans has a good record of responsible lending, which makes the NSF's current treatment by the FCA over the Guarantor Loans division so surprising. Why has it taken the FCA over a year to complete its review of the GL division and tell the company how much it's going to have to pay in compensation? It's a brutal way to treat any company. Particularly a company like NSF with a very weak balance sheet, because NSF hasn't been able to raise any money while the investigation is ongoing.
I haven't been following the situation at Amigo. But I follow Morses Club, which is doing pretty well. Also IPF, but that is outside the UK.
Well Amigo (our best bench mark comparator) surprised with a profits rise recently "Pretax profit for the three months to the end of June rose to £16m from £3m a year earlier as revenue fell by a third to £32.5m after the company ceased new loans during the Covid-19 crisis. Operating costs fell to £6.5m from £11.2m and impairments dropped to £7.6m from £18.5m."
And its only hearsay... (DYOR etc etc) but I think (and have thought for some time) that NSF faired the best of all its peers with the FCA. The FCA 'could'.. have employed a Carrot and stick approach as it doesnt want to destroy the entire sector (the Government has this view I believe) and I believe that NSFs affordability/compliance have been judged best in class due to (maybe ironically) its somewhat antiquated attitude to lending ie get to know your borrower face to face/old school Bank manager fashion. I am/have been buying cheap :-)
dh 243 - I think they will make rather gloomy reading, unfortunately.
On the balance sheet, I’d expect to see total assets around £330m (we know that cash was £101m at 31/5 and the loan book has probably reduced from £258m at 31/12/20 to maybe £225m now as the GL is in run-off. It would be a nice surprise if total assets were over £330m as that is the number for the company’s long-term borrowings.
On the P/L side of things, I’d hope to hear that Everyday Loans is doing well and increasing its loan book and maybe even showing a small profit. EL revenue should be around £45m - £50m for the 6 months Jan-June. But Jan & Feb were lockdown months and this probably had an impact.
It would be nice to see a recovery in Home Credit which decreased sharply in 2020. Hopefully we will see H1 Revenue of c.£25m
Hopefully the run-off of Guarantor Loans is going well with moderate impairments and there should be some income from outstanding loans.
So total H1 revenue of maybe £50m+£25+£10m = £85m
But costs will be at least that (impairments will be -£30m, Admin costs will be c -£45m, Finance costs will be -£15m) so I think a loss is inevitable, but hopefully not too big.
I hope they can give some news re. the interminable discussions with the FCA. But they can’t set the timetable on this.
I’d be very interested to hear what anyone else here thinks.
has nobody got any predictions for half year results
You can see the trades, so if you do a dummy buy, so get a quote to buy, but not execute it, you can work out which are buys and sells at that time.
You only get to know how a share trades, as Nostra observed, by watching the share over time. Months and years is normal.
I bought yesterday and today, so I knew what the true spread was.
How do you know this is the case. Still a novice and trying to be a sponge
Yeh DYOR but no activity then little flurries like this is the form this share often follows before those nice little rises Circa 6p. Is it leaky? who knows but we've seen this before..
Flurry of buys from 8am and now the 15% spread disguising buys as sells.
Everything above 3.7 is a buy.
Its squeaky b*m time again lads, markets looking awful both here and around the world...the dow could be starting a massive fall (already down over 600points pre-market ) and all other markets will react.
Looks like a classic tree shake this morning, somebody wanted some shares and with this share you never know why....;-)
where is every one
and whats with the small trades
I want to break free, I want to break free.... Breakout is very close...
Well that is most certainly a true statement. Not exactly a thriving board with plenty of activity and interested investors.