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IN BRIEF: Morses Club Sees Revenue Decrease Amid Lending Restrictions
Morses Club PLC - Batley, West Yorkshire-based doorstep lender - Reports pretax profit of GBP758,000 in the six months ended August 29, down from GBP6.7 million the year before, amid a 24% decrease in revenue to GBP50.2 million from GBP66.3 million. Says this is due to the challenges of lending to new and existing home-collected credit customers and lower customer demand during the national lockdown in the UK. Plans to pay a 1.0p per share interim dividend, down from 2.6p the year prior.
Says rate of decline in HCC customers more than halved in August, following the lifting of lending restrictions in place for new customers between March and mid-July, but expects its customer base to stabilise in the second half of its 2021 financial year.
Current stock price: 46.50 pence
Year-to-date change: down 66%
By Zoe Wickens; zoewickens@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.
Latest MCL News
- UK Shareholder Meetings Calendar - Next 7 Days
15 Sep 2020 - IN BRIEF: Morses Club Signs Supplier Contract With Modulr Finance
18 Aug 2020 - UK WINNERS & LOSERS SUMMARY: Superdry Rallies On Funding, Online Sales
10 Aug 2020 - Morses Club Shares Rise On Continued Trading Improvements In July
10 Aug 2020 - UK TRADING UPDATE SUMMARY: LoopUp Set To Beat Expectations For 2020
16 Jul 2020 - Morses Club To Resume Lending To New Customers Through Remote Process
13 Jul 2020 - IN BRIEF: Morses Club's U Holdings Up And Running Again
30 Jun 2020 - Morses Club confirms U Account customers can access accounts
30 Jun 2020
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MCL.L News
UK Shareholder Meetings Calendar - Next 7 Days
UK Shareholder Meetings Calendar - Next 7 Days
IN BRIEF: Morses Club Signs Supplier Contract With Modulr Finance
IN BRIEF: Morses Club Signs Supplier Contract With Modulr Finance
UK WINNERS & LOSERS SUMMARY: Superdry Rallies On Funding, Online Sales
UK WINNERS & LOSERS SUMMARY: Superdry Rallies On Funding, Online Sales
Morses Club Shares Rise On Continued Trading Improvements In July
Morses Club Shares Rise On Continued Trading Improvements In July
UK TRADING UPDATE SUMMARY: LoopUp Set To Beat Expectations For 2020
UK TRADING UPDATE SUMMARY: LoopUp Set To Beat Expectations For 2020
Morses Club To Resume Lending To New Customers Through Remote Process
Morses Club To Resume Lending To New Customers Through Remote Process
IN BRIEF: Morses Club's U Holdings Up And Running Again
IN BRIEF: Morses Club's U Holdings Up And Running Again
Morses Club confirms U Account customers can access accounts
(Sharecast News) - Morses Club confirmed on Tuesday that operations at subsidiary U Account have resumed as normal after the Financial Conduct Authori...
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