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A total shambles from the start to finish, poor management all the way through.

Turn the lights out and close the door.

Before anything this is wholly and solely down to poor management before the FCA ever intervened, they should hang their heads in shame.

Waking up ?
I think it has slipped back into a coma !!

The doorstep credit arm where £82.5M was paid was once the main business, look what has happened to that ?
Totally decimated in the last 5-6 years since purchased, just look back on the year on year profits pre purchase by S&UPLC

Judging on past performance IMO what’s remaining could go exactly the same way.

Come on !
Read my previous posts, this is going nowhere fast.
Home credit bites the dust, what’s next ? There is only one way for this company to go in my opinion and that is up “ up in smoke that is “
Stop trying to convince yourselves that everything is going to be okay, NSF are on the brink.

Implosion coming soon, watch this space.

Come on seriously, I really can’t believe that the doorstep arm of the business is still trading and alongside the other issues and the ongoing FCA investigation how can this place survive.
As I have mentioned before on previous posts the rot had set in way before the FCA investigation and covid.
NSF’s first acquisition was loans at home from SUPLC and NSF paid £82.5M, many people will say that they paid way over the odds.
In my opinion now this is not necessarily true as the business was producing solid year on year profits and looked to be very stable, so was probably worth the price at the time.
There has obviously been to many policy changes that have had a detrimental affect on the business, I can understand the need for change with the FCA now regulating the doorstep credit industry but the current share price IMO is ridiculous and has been for a while.
Can anyone see this share increasing to a significant amount because I can’t anytime soon.

Way way before the covid and FCA impact on this company in my opinion it has constantly underperformed and the figures speak for themselves.
Yet another plc CEO sails off into the sunset laden with cash and for what ? My heart bleeds NOT !
I really cannot believe that it has taken this long for him to go and unlike a probable hefty chunk of the UK retiree population, I very much doubt wether he will scratching around for pennies at the end of the quarter to pay his gas bill.
But then again there is probably no need for gas central heating in Hawaii or other exotic climates around the world where he could retire to.
It’s just a shame that most other hard working people in the UK don’t and probably never will have this opportunity.

I think the only way this company can survive is with a takeover and a complete revamp of the BOD.
Pineapple you mentioned in your last post FCA approval imminent, the FCA matter could roll on way into next year and mark my words when the FCA say jump this is what the company has to do.
In regards to the doorstep market, a lot of the home credit companies oversold their loan product’s over committing customer’s who did not have the ability to pay back.
The days of rolling over the loans and clearing off big balances are long gone and never to return with the FCA looking over their shoulders.
Today’s climate is a TOTALLY different market and these companies need to realise this quick, it’s either this I’d go under.

Don’t hold your breath on the FCA investigation being over soon folks as a conclusion could be month’s into the new year.

Yes I agree and perhaps should have been more specific in stressing from the guarantor loans perspective but the overall health of the whole company in my opinion still looks grim.

With all due respect tucky the FCA investigation may not be the tick box process that you describe.
I certainly don’t think that it’s a case of inviting the FCA back when they ( nsf )are ready, it all depends on the severity of the investigation.
The FCA will be telling them what’s expected and when it has to be done and this could be weeks or months, if they find any serious wrongdoing the future of this company as a going concern imho looks very grim.

Amazing how they throw out a trading update today with the share price hitting ROCK BOTTOM!
Not good publicity and they needed to get some news out ASAP to avert total disaster and try and halt the selling frenzy.

Exactly fast food.
If this was any good directors & the masses would be piling in at the price the shares are now.

This ship appears to be sinking fast !

Only another £39’999’000 to go !

I think even 15% in this market is way to much.

Regarding forbearance I understand it to mean arming oneself against defeat / loss, I’m glad you pointed this one out fastfood because I can’t see much of it in regards to the performance.
I was in this industry for 25 years and always kept a tight reign on credit granting.
Little and often drip feeding loans is the only way to go on sub prime lending and the bigger the spread to more customers will limit the losses overall, rather than throwing big money around to a minimal base of customers.
It’s like betting each way on a 20-1 outsider in a horse race with 25 runners,I would rather bet on three 7-1 separate horses than risk the 20-1 shot.
In my opinion you are posting to the point valid comments.

Yes and we all know that in the sub prime home collect market the customers like to be drip fed loans on a regular basis.
Possible outcome

1. Customer accumulates arrears
2. Customer requests a separate additional loan
3. Customer gets refused additional loan
4 . Customer not happy
5. Customer reduces the agreed terms on existing loan or stops paying altogether.
These 76 week loans are usually for a larger amount resulting in bigger losses for the company.
Cast your mind back to 10 or 12 years ago and see what happened to London & Scottish home credit, this went belly up due to the length of the loans.
What are compliance in all of this and who is monitoring the application process ?

Absolutely spot on fastood plain and simple !

How can JVK use the word “ robust “ anywhere in the latest RNS absolutely astounds me.