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An excellent trading update IMO and importantly "The Group's primary objective is to complete full mobilisation of the bank and the project is on track for delivery this summer". GLA
tipped again by him in "On the money" 12 December 2016 Buy at 30p, target 35p to 40p
Simon Thompson has tipped this today with a 35p end of year target price. Private & Commercial's shares are well worth buying on a bid-offer spread of 24p-24.5p ahead of the full-year results on Thursday, 9 June 2016. My year-end target price is 35p, the equivalent of 2.2 times my estimate of end-September 2016 book value and equating to a prospective PE ratio of 16. For good measure, analysts at Stockdale Securities predict a maiden dividend per share of 0.1p to be declared in those results, rising to 0.3p in the current year, implying a forward dividend yield of 1.3 per cent. Buy
http://tinyurl.com/jdtpusd Finance house Private & Commercial Finance Group plc (LON:PCF) said performance in the 12 month period just ended will be slightly ahead of expectations. Speaking to Proactive Investors, chief executive Scott Maybury says the trading statement today shows “a further outperform” of upgraded expectations outlined last December. New business originations were 13% higher at £63mln than the £56mln the year before, and Maybury adds that he is pleased the company has not “chased growth” and maintained its prudent underwriting standards despite the opportunity to better its performance by lowering standards.
Another excellent RNS today.
with new shares hitting market next week they will soon ;)
They dont have shares to sell
Yep and already profitable with trading ahead of management expectations :)
Some extra shares hitting the market soon - mcap will be closer to £18m once they do. But very bullish statements.
However, our future prospects have been significantly enhanced as, following these transactions, the net assets of the Group will be increased to more than £20 million
Extracts from today's RNS: "PCFG, the AIM quoted finance house, advises that the Group's results for the year ended 31 March 2015 are expected, subject to audit, to be ahead of market expectations." "Progress continues on the banking licence application and the Group intends to present its business plan to the relevant authorities in the coming month."
http://tinyurl.com/k8z8v7z Scott Maybury, the chief executive of Private & Commercial Finance Group (LON:PCF), says securing the £10mln facility shows the consumer and small business lender has the backing of the government. In fact, Maybury says he only knows of two other asset finance companies that have also been rewarded. The company has agreed a £10mln, three-year loan facility with the commercial arm of the UK government’s economic development bank. The British Business Bank Investments’ facility takes PCF’s total lending headroom to £32.7mln, which it says is sufficient to fund anticipated growth in both its SME and consumer finance divisions.
The chairman has purchased £40,000 shares this week.
http://tinyurl.com/l8u5ert Scott Maybury, the chief executive of Private & Commercial Finance (LON:PCF), says he is pleased with the half-year results despite a slight delay in obtaining a banking licence. Maybury talks about the competition from challenger banks and the importance of getting its own banking licence.
Should make another jump up next month.
This morning via the RNS. Lots more to come in this share I suspect..
So much for the spread narrowing...
Let's hope the spread tightens today!
Knock twice for yes,once for no.
This has been flat lined that long I was starting to think it had been suspended.I'll keep watching for now.
Shares in finance house Private & Commercial (PCF) surged by 1.25p to 9.75p after announcing a 48% rise in pre-tax profits to 0.5 million pounds for the six months to September. The numbers were driven by new business growth and loan loss provisions falling by 14%. To further boost growth the company is looking at applying for a deposit-taking licence. House broker Daniel Stewart has an 18p target price on the shares.
Yep but need them to reinstate the divi for a real re rating
Back on track
Been a while