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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
- IN BRIEF: Wirecard Woe Freezes Morses Club U Account Customer Accounts
29 Jun 2020 - Morses Club accounts frozen by FCA over Wirecard scandal
29 Jun 2020 - UK Earnings, Trading Statements Calendar - Next 7 Days
23 Apr 2020 - UK TRADING UPDATE SUMMARY: NHS Uses Induction Healthcare's Mobile App
16 Apr 2020 - UK TRADING UPDATE SUMMARY: Kier To Reduce Salary For 6,500 Employees
30 Mar 2020 - Morses Club withdraws guidance after Covid-19 outbreak
30 Mar 2020 - Morses Club Confirms Guidance, Says Balance Sheet "Robust"
17 Mar 2020 - Morses Finance Chief Andrew Hayward Steps Down With Immediate Effect
17 Mar 2020
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Morses Club receives extension for facility until end of March
(Alliance News) - Morses Club PLC on Tuesday said it received an extension of its facility.
MCL.L News
IN BRIEF: Wirecard Woe Freezes Morses Club U Account Customer Accounts
IN BRIEF: Wirecard Woe Freezes Morses Club U Account Customer Accounts
Morses Club accounts frozen by FCA over Wirecard scandal
(Sharecast News) - Morses Club said customer accounts at its subsidiary U Account have been temporarily suspended after the Financial Conduct Authorit...
UK Earnings, Trading Statements Calendar - Next 7 Days
UK Earnings, Trading Statements Calendar - Next 7 Days
UK TRADING UPDATE SUMMARY: NHS Uses Induction Healthcare's Mobile App
UK TRADING UPDATE SUMMARY: NHS Uses Induction Healthcare's Mobile App
UK TRADING UPDATE SUMMARY: Kier To Reduce Salary For 6,500 Employees
UK TRADING UPDATE SUMMARY: Kier To Reduce Salary For 6,500 Employees
Morses Club withdraws guidance after Covid-19 outbreak
(Sharecast News) - Doorstep lender Morses Club said on Monday that it was withdrawing its full-year guidance as it continues to assess the impact of t...
Morses Club Confirms Guidance, Says Balance Sheet "Robust"
Morses Club Confirms Guidance, Says Balance Sheet "Robust"
Morses Finance Chief Andrew Hayward Steps Down With Immediate Effect
Morses Finance Chief Andrew Hayward Steps Down With Immediate Effect
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