RE: Vanquis to be Vanished11 Mar 2024 14:29
Panmure Gordon analysts Rae Maile and Ross Luckman commented: "Another material downgrade to expectations is the last thing that long-suffering shareholders needed, but we have sympathy with the company that, this time, it is not entirely its own fault.
"2025 will bear the IFRS9 provisioning costs of seeking growth, and it will be 2026 before there is any semblance of a return to 'proper' profits and profitability. That is an awfully long time to wait, especially in such febrile stock markets, and without much in the way of dividends to ease the pain the shares will be moribund at best."