The latest Investing Matters Podcast episode with London Stock Exchange Group's Chris Mayo has just been released. Listen here.
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Tangentially related, but IPF posted excellent result and SP is currently 12% up. There may be some read across. IPF seem to be in a fundamentally better position, with less regulatory red tape.
Fingers crossed - damn predictive text
Yes me too
I believe in the company so will follow your example and top up - if I’m right the increased holding and lower average price will reward me - h FGH infers Cross they pay a dividend as that’ll help too
Yeah, if it creeps near to £3.00 I will likely top up.
Still buying on the way down
Think I’m going to end up with 2,500 shares which has a nice relationship to the total number of shares in issue of c 250 million - a thousandth of one percent of the company!
Think I’m eventually going to end up with a millionth of Shell
Anyway good luck all and let’s hope PFG starts paying a dividend based on 30% of earnings - looking forward to FY21 results announcement in April
Picked up another 500 at 326 after paying 355 and 361 but down again - in this for long run so hopefully my return will be rewarded in due course GLA
Yes, I got a chunk at £2.95 after the Covid dip (I wanted to see it going up before I got in). Whole market down today, so little we can really do but hold once things are clearer re: the FED and inflation.
I think this will gradually tick back up over time. I expect Q4 results to be good and we might see a divi.
Thanks Ubik_Fresh
Unfortunately can’t do anything about drop today but have just topped up on basis I paid less today than I did on Monday and I’m holding for long term - think somewhere I saw a broker target price of £5.20 / share quoted - that’s not far off the £6.00 historic price I remember from pre covid days so let’s see how it goes
Good to see you here again Barrie! Gives me a bit of faith!
After a long absence and missed opportunities to get in below £2.00 I’m back invested in this share having heavily bought and accrued a 5 figure unrealised gain in an oil major.
I hope this share recaptures some of its historic price level and rewards all of you that stuck with PFG over the past year. GLA
On HL website
(Sharecast News) - Sub-prime lender Provident Financial said its fourth-quarter trading performance continued to track ahead of management expectations, driven by favourable macroeconomic conditions and demand for credit from customers, and announced the restructuring of the board of Vanquis Bank as part of an effort to "substantially align its membership" with the board of PFG.
Provident Financial said its fourth-quarter trading performance continued to track ahead of management expectations, driven by favourable macroeconomic conditions and demand for credit from customers.
In the group's credit card business, credit standards remained "tight" and delinquency trends remained "benign", consistent with those outlined at the end of the third quarter.
Overall, customer credit card spend for the quarter was in line with pre-pandemic levels, although spend levels were impacted by the spread of Omicron through December and early January, in line with the wider market, while the group stated its vehicle finance business ended 2021 "well", with year-on-year growth in its customer numbers, customer feedback scores remaining positive and pricing of used vehicles at all-time highs.
As a result of the improved trading conditions in the second half, Provident now anticipates being able to release approximately £20.0m of Covid-19 macroeconomic related provisions as it reappraises its coverage ratios and intends to declare an ordinary dividend of approximately 30% of adjusted ongoing full-year earnings and anticipates providing guidance for a longer-term, progressive dividend policy with its full-year results.
Elsewhere, Provident Financial revealed it had restructured the board of Vanquis Bank as part of an effort to "substantially align its membership" with the board of PFG.
Also Shore Capital broker rating, with a reiteration of BUY with a £5.20 target price.
It's great to see progress. It has taken some time, but with the home credit division gone and the company really shaping up for the future, I feel a good deal more confident about being invested. Probably still represents a fairly low SP in terms of getting in for future growth.
Good to see them getting their house in order and restoring Dividends soon , I have been close to selling out recently and reinvesting the profit elsewhere but I will hold now as FP could do really well over the next few years assuming Covid plays ball .
I see they've consolidated the Vanquis board. Market seems to like the news as we are up today. Would love to see this head back to the £4-5 mark. I think we'll see gradual gains over this year.
you might consider revisiting last balance sheet, they've excess liquidity
and pile of undistributed profits from previous (pre-covid) years.
I suspect that's where the need do dispose these resources is coming from
(but what was a point with onboarding loan then? if they're jumping outright to allocation of dividends)
I would say disappointing bit is what they think balance sheet is strengthened by subordinated loan (debt) and not organically via business performance, but releasing 20 mil from provision back is something nice to hear.
They try to sweeten expected losses with Sunflower progression - but share of this product ain't that big to drag consolidated results above the surface.
RNS says in April:
"The Group anticipates publishing its FY'21 results in early April, with the previously announced Capital Markets Day to follow during H1'22."
Does anyone know when Provident post year end results ???
Most of the market down, PFG up... 2022 is going to be weird.
Agree
There have been hints that results for Q4 will be good, and potential divi to be paid. Really hoping we can see this back to £4-5 levels in 2022, even though lots of uncertainty with Omicron and inflation.
Should have said finally closing !!
All round good news for the long term health of PFG. Although, slightly worrying that the article is essentially an ad for claiming for mis-sold loans. Groan.
Home credit family gone
https://www.thesun.co.uk/money/17093539/payday-loan-doorstep-lending-debts-written-off-satsuma-provident/