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Absolute shocking set of results in my opinion !

As expected they seem to be blaming COVID 19 throughout this RNS, this ship appears to be sinking deeper and deeper into the water !

Why haven’t they got the courtesy to reply to emails, in my opinion this does not bode well.

Go back to when the company was purchased from SUPLC for £82.5M around 5 years ago.
Analyse SUPLC’s year on year profits for the 5 years previous to the purchase of the company.
This new lot have never produced results anywhere close to these.
The share price started at £1 plus, look at it now !
You can’t seriously be asking me about who is watching the money coming in and the money going out, the figures speak for themselves.
Being in business is all about making a profit, the profits over the last 5 years are very thin on the ground.
The share price says it all.

Look at the facts & figures !
As I posted earlier on here, who is watching the money coming in and the money going out ?
IMO this share price is a million miles away from a recovery to anywhere near its original offering, I can only see it sinking further on past performance.

The glory days of the 80’s & 90’s are long gone , where the regulation of the home credit industry was minimal.
Customer loans were being “rolled over and over again” and the likes of PFG with JVK at the helm were making big money.
IMHO the climate has dramatically changed and those days are long gone and cannot be replicated.
So basically anyone with a modicum of management experience in the home credit industry could have produced these profits in the 80’s and 90’s to be comparable to what JVK produced.
Times have changed and I would like to think that the so called ”experienced management team” would have a solution to halt the dramatic decline in the share price.
Something needs to be done now because I can only see it sinking further and further into the abyss and going the same way as a certain “Status Quo” song.

So JVK would like to thank Nick Teunon for his “ important role in the development of NSF’s corporate and financial strategy “
What for ?
On the results at this particular time I would rather have Diane Abbott running the show.

What the hell is this board playing at ?
Is ANYONE watching the money coming in and the money going out ?
What a laughing STOCK excuse the pun !

I totally agree a £25M loss & still paying a dividend !
How ?
I think it’s time for the ringmaster to throw in the towel because this circus is going nowhere !
You just could not make it up.

I couldn’t agree more ,year on year profits from the pre NSF (loans at home 4 u) “knowledgeable hands on management team” the majority of them pushed aside to make way for the new lot.
What’s happened to the majority of the new lot ,where are they now ?

Let’s have a “black and white pound for pound dissection” of the home credit division and see what the real picture is on the previous years,this would make interesting reading.
Then a delusional attempt to takeover Provident that has fell through.
What would have happened if the attempt had gone through, would the existing NSF home credit customers have been put through the wash with the Provident customers and merged into one ?
The legal fees of £7M plus of shareholders money.
Questions need to be asked and I reiterate “let’s have a pound for pound dissection of the home credit division”
Shareholders deserve to see the real picture.
Now there’s a challenge!

Perfect analysis Pinki. I agree on the need for investment on internal infrastructure in readiness for FCA approval ,but I can only assume that NSF will soon be following suit with Provy and employing all existing self employed agents ,regardless of the announcement on 28/Feb. I personally don't think the FCA like target/commision driven environments and throughout this trade this has been the usual weekly agenda across the board ,in all of the main players. I can also understand the need for growth in LH4U ,but I think the rapid growth is too much to soon. Under S&U Plc just look at the historic year on year profits/dividends ,they seem to be evaporating under this new lot and I can't envisage this changing anytime soon ,but I could be wrong?