Member Info for Johnnydurex

It's not unheard of for brokers to trade multiple orders together and they never tell you

Schlumberger Shell or Cairn ?

Debenhams failed due to their costly leases which made it unsustainable. John Lewis was simply mismanaged - just look at their Birmingham store a 35 million pound white elephant
MKS needed to up its game in digital but the pandemic has helped it enormously as one of the last men standing

My letter arrived today with instructions on how to participate which I will of course be doing cher ching

Lots of positives, when the field team is fully mobilised we should see a return to growth with a raft of new clients ranging from NHS, Royal Mail and K8ngfisher
Also plenty of potential from SME businesses
Confidence is shown through the dividend and the robust balance sheet

I'm looking forward to 320p tomorrow

Be interesting to know which institutions are invested it might help with the preachers of doom who question the technology

This is a worthless investment. It serves only Eggleton and his cronies with placings after placings and naff all progress

The Digital division implemented two new platforms over the period, creating a robust banking proposition and strengthening the existing loans management system. As with HCC, total credit issued and customer numbers within the Digital division were impacted by reduced demand due to lockdown measures along with the Group's tightening of lending criteria to maintain high quality lending. Total credit issued increased by 21.4% to £19.3m (FY20: £15.9m) and customer numbers were 29,000 (FY20: 33,000). The division is now primed for growth with new robust platforms and a significant target market. The division's strong collection figures demonstrate the platform's capabilities and we are now focused on scaling the business and achieving run-rate breakeven by the end of FY22.

We also took the opportunity to implement a number of other structural changes to the business, supporting employees and agents working from home, and restructuring the Group's property portfolio, which is now largely complete with all 89 branches operationally closed on a permanent basis. Morses Club has not furloughed any staff nor sought any government assistance throughout the period.

Subject to audit review, we anticipate that Group profit before tax for FY21 will be ahead of current market expectations[1]. Morses Club intends to pay a dividend for FY21, demonstrating its confidence in the Group's prospects.

Thu, 4th Mar 2021 07:00

RNS Number : 0950R
Morses Club PLC
04 March 2021

4 March 2021

Morses Club PLC

Trading Update

Morses Club PLC ("Morses Club", the "Company" or, together with its subsidiary undertakings, the "Group"), an established provider of non-standard financial services, provides the following trading update for the 52-week period to 27 February 2021 ("FY21").

The Group performed resiliently and profitably during a challenging year, where our primary focus was on supporting our customers and protecting the wellbeing of our teams and agents. Morses Club responded to the profound impact that the pandemic and ensuing market conditions have had on the Group by accelerating our existing digital strategy and taking advantage of the opportunity to expedite the tech-enabled transformation of the business.

We quickly moved to a remote Home Collect Credit ("HCC") lending model, which was made possible by the Group's previous investment in its digital capability, and our well-advanced digital platform enabled us to re-commence lending to existing customers just three weeks after lockdown was announced in March 2020. 64% of lending in our HCC division is now cashless and transacted through our portal, with customers signed up to the portal rising by c.70% during the period. Customer satisfaction remains very high, unchanged at 97%, reflecting, in part, our customers' positive experience of our new remote lending model. We expect this to be a permanent shift in customer behaviour and our research clearly indicates that both customers and agents see digital lending as the future of the HCC market.

The Group has focused on the quality of lending since the start of the pandemic, with strong collection rates and levels of impairment reflecting this. The collection to terms performance within HCC has continued to improve, with Q3 FY21 at 95% of historical expectations and Q4 FY21 rising to 100% of historical expectations. Total credit issued within HCC reduced by 37.0% to £109.7m (FY20: £174.2m) reflecting reduced demand due to various national and regional lockdowns during the year, along with the Group's stricter lending criteria to protect the quality of the loan book. The HCC gross loan book reduced by 28.6% to £102.1m (FY20: £142.9m) and total customer numbers within HCC were 152,000 (FY20: 221,000). The confidence and support of our funding partners provides further validation of our strategy, as we secured an extension of our revolving credit facility in April 2020.

The Digital division implemented two new platforms over the period, creating a robust banking proposition and strengthening the existing loans management system. As with HCC, total credit issued and customer numbers within the Digital division were impacted by reduced demand due to lockdown measures along with the Group's tightening of lending criteria to maintain high quality lending. Total credit issued increased by 21.4% to £19.3m (FY20: £15.9m) and c

If PFG and Amigo go under, there may be more opportunity for MCL - the digital format can only aid compliance too

Break even at a quid - then might begin to agree

https://www.theguardian.com/money/2017/sep/20/loan-sharks-uk-biggest-doorstep-lenders-morses-club

Oh so nothing to with results on 9th March and an update on the meeting with the Indian government

I'd been topping up since 42p prior to Christmas and was waiting for an opportunity. I kicked myself for holding out on the lasr 2 excursions to 80p and bagged a few more at 78p. Very pleased. True some speculators might make a quick bit of profit today but i'm for the long haul. Andrew Newland is a sound CEO and the potential here is huge.

Today's "story" pathetic

bargains like this........................treading water during the crisis with new contracts and a juicy dividend, this is cheap as chips and waking up now

what is it with Directors and former Directors shooting us in the foot

Like always what is an acceptable outcome will be decided by the institutional investors, the likes of Black Rock, MFS and Fidelity won't be messed with. They yield massive influence in the global investment community and the India government would do well not to upset them.

I expect the divi to be modest due to sentiment over the pandemic but I am unsure if it would be paid in the current financial year? - Thoughts please