Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
This is the end of doorstep lending part of the business. poor people will accumulate even more debt
Coronavirus: Loan and credit card payments set to be frozen
https://www.bbc.co.uk/news/business-52132329
This is going down surprisingly fast. I was expecting £5 in Jan 19 after Q4 update. I don't see CCD making any profits in the next 2 years and VBL definitely picked last year. New IFRS9 provisioning is hurting them badly.
I dont think this is a very positive market update. In CCD customer numbers are falling, VBL is not growing at all. They did not provide any figures. Internal plans were scaled down mid year and that is why results are in line with with them.
Vanquis MD will probably leave the company soon.
so it looks like trading update will be crap. Vanquis is not growing anymore. CCD is not recovering as expected.
Fastfood, so you do not worry about possible redress at Vanquis Bank?
If i was II i would buy remaining shares as cheap as possible, than delist company and than sell vanquis customer book (1.5milon customers) to the highest bidder for say 2b. this would be quicker than waiting for turnaround and dealing with incompetent management.
if there is more bad news, large investor will be worried. They are in the trap now. With such big shareholding they will not be able to get rid off their shares on open market quickly. They can top up next week for �4-�5 next week if they want and than pump more money in the business to keep it alive. No dividend for min next 2 years is not good as well.
I think if there is no redress share will rocket to £9 or £10 or more 300m redress or more - share price £5 or less 200m redress - share price appox £6 100m - £7 If still no news than we carry on with waiting game.
Arsena17, On Tuesday 27th �6 could be expensive buy
Receivables in CCD are around �300m and they are not able to get funding from banking licence holder Vanquis Bank. How they are going to repay �250m in 2019 I don't know. This part of business was already in decline for over the decade before all this mess. They pay 8% on �250m bond! You can find this info on their website (debt investors section). so I agree with WW cash call will have to be made.
Yes, I am shorter! And I swear, I did not posted my opinion here before. I am not serious investor, but i did my research and invested 3k as a fun. Lets see what will happen on 27th. Long term this company probably will be good but short term I believe there will be �5 soon.
No way people (investors) will be happy with big redress. This would mean Vanquis loss for 2017 and lower profit for 2018. Vanquis lost Argos Partnership, there in now way they will find new business partner soon. Damage to brand could be significant. CCD is budgeting lose for 2018 and of course they told us about min �120m lose in 2107. In 2019 they have to repay more than �200m of commercial gilts! Money Barn still under investigation so smaller redress is possible as well. If they are very lucky significant group profit will return in 2020! There is a reason why capitalisation dropped from 4b to 1B.
I also follow this chat with interest I am quite surprised that that there are still people buying PFG shares. Especially 1 week before potentially dramatic result announcement.