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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
- EARNINGS REPORTS: PageGroup, Coats beat pre-virus levels in 2021
3 Mar 2022 - Shore Capital places Morses Club under review following profit warning, CEO departure
21 Feb 2022 - IN BRIEF: Exiting Morses Club CEO sells shares ahead of profit warning
21 Feb 2022 - AIM WINNERS & LOSERS: Morses Club sinks on profit warning, CEO exit
21 Feb 2022 - LONDON BROKER RATINGS: Peel Hunt puts Morses Club rating under review
21 Feb 2022 - Morses Club tumbles on profit warning, CEO departure
21 Feb 2022 - DIRECTOR DEALINGS: Crest Nicholson chief executive buys shares
28 Jan 2022 - EXECUTIVE CHANGES: Morses Club taps DWF CEO Nigel Knowles as new chair
22 Dec 2021
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MCL.L News
EARNINGS REPORTS: PageGroup, Coats beat pre-virus levels in 2021
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
Shore Capital places Morses Club under review following profit warning, CEO departure
(Sharecast News) - Analysts at Shore Capital put their rating and target price on Morses Club under review on Monday following an unscheduled trading ...
IN BRIEF: Exiting Morses Club CEO sells shares ahead of profit warning
Morses Club PLC - Nottingham, England-based home collected credit provider and online lender - Issues profit warning for its financial year ending Feb...
AIM WINNERS & LOSERS: Morses Club sinks on profit warning, CEO exit
(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Monday.
LONDON BROKER RATINGS: Peel Hunt puts Morses Club rating under review
(Alliance News) - The following London-listed shares received analyst recommendations Monday morning:
Morses Club tumbles on profit warning, CEO departure
(Sharecast News) - Morses Club shares tumbled on Monday after the subprime lender warned on profits due to customer complaints and announced the depar...
DIRECTOR DEALINGS: Crest Nicholson chief executive buys shares
DIRECTOR DEALINGS: Crest Nicholson chief executive buys shares
EXECUTIVE CHANGES: Morses Club taps DWF CEO Nigel Knowles as new chair
EXECUTIVE CHANGES: Morses Club taps DWF CEO Nigel Knowles as new chair
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