Provident Financial Share Price (PFG)

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 .