(Alliance News) -Â Doorstep lender Morses Club PLC remains confident in guidance, the firm said on Tuesday, adding it has a "robust" balance sheet.
The company, noting its recent share price movement, said it is still "confident" in the guidance provided in a trading statement earlier in March.
Shares in Morses closed down 17% at 38.00 pence in London on Tuesday.
"As guided, the HCC division continues to perform well and is expected to maintain like-for-like profitability for 2020 versus 2019. We are pleased to report our impairment levels as a percentage of revenues for HCC will be at the lower end of our guidance range of 21% to 26%. It is noteworthy this result will be one of the best in the HCC sector," Morses said.
The firm added it has a "robust" balance sheet and intends to maintain its existing dividend policy. Negotiations over a new funding facility are "progressing well" and it is expected a "positive announcement" will be made confirming arrangements at an appropriate time.
By Lucy Heming;Â lucyheming@alliancenews.com
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