Member Info for Standanddeliver

Hxulcolrdoh. I must point out that my post related to the decrease in credit card customer only and nothing else. I appreciate what you are saying but that's not happening. You stated that due to mass migration, this will help Vanquis to grow. In fact it hasn't and the company has declined. In 2018 the population was 66,432,993 and this year it's 67,961,439 (estimated figures). That's an increase of 1,528,446 and yet over that same six year period, Vanquis credit card business has decreased by 453,000 customers. I only gave my thoughts about the reason, righty or wrongly. Six years and Vanquis hasn't stopped the decrease, can only hope this changes this year but I'm not optimistic.

Yes Provident went for quantity rather than quality. They set a target of having 2 million PPC customers and never achieved it. Think the highest PPC got to that figure was 1.8m.

Yes Comp it is long term and yes the share price reflects the decrease in credit card customers.

The big question, I'm awaiting Pooks to answer, how does Vanquis reverse this trend. I can tell you now that Vanquis doesn't have the answer. A company cannot stop people dying, retiring, emigrating, doing a runner, losing their jobs, paying off their cards and not using cards. Where are the new customers going to come from ? It's the hole in the bucket problem and they cannot fix it. I think Vanquis will just become a profitable smaller company.

I take my hat off to you Pooks, you're a brave person to say that. I've been told that before about my posts and yet they turned out to be correct. Just like telling people that PPC will be closed down. You obviously didn't see my post comparing the Vanquis Jaguar to the IPF Mini back on 16th May 2023, warning investors. Van/PFG shares were 219.50 then and IPF 106. Today Vanquis shares are 56.80 and IPF 158. I finished that post saying, "Investors don't be fooled by the look of the Jaguar, it might look attractive but it's the cc size of the engine that counts".CC stood for customer count. Even then I was highlighting the drop in customers and why their car was going to roll backwards.

Lets analyse what I have said in todays post.

Vanquis credit card customer base is shinking. Fact

They have lost 453,000 customers in six years. Fact

Baby boomers will hit the retirement age peak in 2030. Fact

In the early seventies, companies started to introduce pension schemes for their employees and the government pushed for people to take out a personal pension. Fact

People will be able to take cash lump sums and pay off their credit cards. Fact

Provident was built on long established families. Fact

The population is increasing by migration. Fact

UK born and bread birth rate collapsing. Fact

The only two things I said that aren't facts is, IMO this trend will continue to happen and this could be one good reason why the company have lost so many customers in six years. Please take note of IMO and could.

My post was all about the decreasing credit card customer base and the problem the company face in correcting this situation. These fact surely are or will be affecting finance companies now or in the future.

So my question to you Pooks, if my post is utter cr-p, please explain why Vanquis have lost 453,000 credit card customers in six years. What is the reason behind this and how the company can reverse this trend?

I keep warning investors that Vanquis bread and butter credit card business keeps losing customers and is shrinking. In 2018 they had 1,773 m customers and now that figure is 1,320m, that's an incredible 453,000 credit card customers they have lost in six years. IMO this trend will continue to happen and here's the reason why. There are three areas that Vanquis have no control over and impossible to change, the demographics. 1. The baby boombers retiring. 2. UK born and bread birth rate collapsing. 3 Increase in migrant population.

The baby boomers will hit the retirement age peak in 2030. In the early seventies, companies started to introduce pension schemes for their employees and the government pushed for people to take out a personal pension. These people will be able to take cash lump sums and pay off their credit cards and this could be one good reason why the company have lost so many customers in six years.

Provident was built on long established families and these are reducing year on year due to age, deaths and not being replaced due to the drop in the birth rate.

The population is increasing by migration.

So Vanquis are losing well established customers and these will have to be replaced with new faces who probably have no credit history.

Morgan Stanley are even worried, they did a survey that predicts 45% of prime working age women (ages 25-44) will be single and childless by 2030

Where does this leave Vanquis? They will either have to reduce their credit standards with the prospect of arrears growing or keep their standard and see the company shrink even further.

Sorry the car finance should read 9,00 down

OMG, these figures are shocking. Vanquis card down 296,400 customers. Car finance 90,000 down. Persona loans also down. Look at the new customer percentage for all three ,down by a huge amount. Loss of customers = loss of profit.

Vanquis report tomorrow. Expecting this to be the same as their previous reports.

Vanquis shares spread is 1 to 2 tenths of a penny. It just doesn't make any sense why the spread is so large on IPF shares. Last night the spread on IPF was half a penny so how comes today it is so large?

The mm's are not helping the share price with a crazy spread of 4.5p to 5p?

Group performance

I am very pleased to report another strong financial and operational performance in the first half of the year, with all our divisions performing well. Our relentless focus on delivering for our customers through executing our Next Gen strategy, together with strong operational discipline, has delivered pre-exceptional profit before tax of £47.3m, up 25% (£9.5m) on the 2023 half-year result, and ahead of our 2024 internal financial plan.

Group performance

I am very pleased to report another strong financial and operational performance in the first half of the year, with all our divisions performing well. Our relentless focus on delivering for our customers through executing our Next Gen strategy, together with strong operational discipline, has delivered pre-exceptional profit before tax of £47.3m, up 25% (£9.5m) on the 2023 half-year result, and ahead of our 2024 internal financial plan. With any luck it might push Vanquis shares higher today.

You know very well Pooks, they are the experts at hide and seek. We can seek as long as we like but they are so clever at hiding things. I wonder why they never disclosed the figure, probably too high to tell us. Just add this to other things they never told us.

Yes Pooks you are correct, it was doomed anyway. The BOD knew this so why make the changes when they did, it was unnecessary, considering the company had operated this system for over 100 years. They could have close it down gradually still using self employed agents. The BOD crashed the company and share price for no reason. The government wanted to shut down all companies who used doorstep collection (cash). due to health and safety and money laundering issues. They used the FSA to do so and succeeded.

That's all history now. I think having H&T onboard is a positive step and will be very good for Vanquis.

The most sickening thing about all this is, the BOD kept silent and the catastrophic impact this was going to have on the share price, the poor investors who were oblivious to what was going on were going to take the hit.

He came back to PFG to help them out with no intention of staying and that was for a very good reason. The changes to the structure of the company, which he was so dead against, had done irreversible damage which could not be corrected. The company had changed to employed agents from self employed agents and that was the big mistake, it was never going to work, that's what put the company on its knees. Gillespie left PFG after he sorted out a lot of the problems but he knew PPC was doomed. PPC had 1.8m customers and today that is zero. He went from PFG to H&T where he became the CEO.

ITK24. No it isn't. What on earth are you talking about, stuck in the 80s. Chris Gillespie was asked to come back to PFG and sort the mess out in 2017.

Well well well, who would have believed this, H&T partnership. The CEO of this company is my good old friend Chris Gillespie. So who is Chris Gillespie. The most experienced and successful guy in the UK for home credit. This is the guy who took the PFG share price from £6 to £35. This is the guy (ex CEO of Provident Personal Credit) who had to leave Provident because the CEO of PFG (Peter Crook) just didn't see eye to eye with him and wanted him out. Chris Gillespie resigned from PFG as he could see the company crashing as Crook wanted to make changes that would devastate PFG, he was proven right. The same guy the chairwoman had to get on her knees and beg him to come back and sort the mess out, which he did. Chris Gillespie is a born and bred Provident man and to me this means one thing, he is helping Vanquis with his advice, how to turn things around. This is best news to come from Vanquis in years. If they listen and learn from him the company will be onwards and upwards sooner rather than later.

I totally agree, the MMs are not stupid and they had their own reasons to increase the share price on that day. I made an extra £160, not big bucks but better than nothing.

Pooks. You can manipulate the share price but you have to pick the right time to do it. The best time to do it is when there aren't that many trades taking place and the spread is wide. I've only tried it once and it worked. I had 20,000 shares that I wanted to sell. I purchased another 2,000 and split the trades by 20 x 100 forcing the price up during the day. I then sold the 22,000 shares and made a bigger profit than if I had sold the 20,000. I think a lot of this goes on and I've seen many trades where single shares are repeatedly bought or sold moving the share price either way. On that day, I bought 2,000 and sold 22,000 and the share price was still up. It's the amount of trades that take place, moving the share price rather than the value.