Member Info for Standanddeliver

I've never mentioned profit because that goes hand in glove with the serviceable customer count. If the serviceable customer base decreases the profit will go the same way, which has happened. When the profits keep decreasing so will the share price, although they can still make reduced profit. My point is, unless they can grow their customer base, profits will not increase to the level expected. I have no doubt, the new management can deliver and turn things around but they need time. How long is it going to take? IMO at least two years. I would reintroduce the 13 week budget loan for utility bills. It was an excellent product, not only for gaining new customers but once onboard you knew their financial situations and could offer other products. In a nutshell, I cannot see the products they have on offer at the moment changing the current situation to a great degree.

If they can diversify into other areas and get new products up and running ASAP, confidence in the company would return and the future look more promising.

Opti_mystic. I have been saying this for 4 years now, yes 4 years. Unless they grow the customer base they are going to have big problems and that's exactly what has happened. Their key business the Vanquis credit card is dead in the water. Then people wonder why the share price has hit a lifetime low. I cannot see how they can change the situation with the card. They need to diversify into other areas and offer. Insurance/assurance etc, just like other banks do. Last time I asked this question, over two years ago, nobody could answer it. Where is the growth going to come from? If you can answer this, please contact the CEO and help him out.

Deadly right

I must admit I expected Vanquis to go backwards but I never imagined it would be this bad.

OK Mary, think you have seen this before. Posting this again from May 2023

The Vanquis Jaguar compared to the IPF Mini. The Jaguar looks better than the Mini but you can't just go on looks.

Lets see what's under the bonnets. I am impressed, the Mini has a cooper S engine, and that's a plus I wasn't expecting. Now for the Jaguar, OMG it only has a 1300cc engine, no wonder it has hardly moved in the last three years. There's a brick behind the back wheel as the handbrake isn't working properly and it keeps rolling backwards. The owners tell me they have made lots of improvement but I just can't see where. Shame they didn't fix the handbrake. The performance is poor due to the engine cc size. Looks are deceptive, you need to delve deeper when buying into something. CC stands for customer count and their inability to increase it. Until they make the cc bigger, this Jaguar isn't going anywhere. So lets take a look at how positive they are about increasing the size of the cc. Look at their Annual Report and what Tracy the ICU nurse had to say, there's the answer. Signing up the spouse or partner to become another customer. the deceptive way to increase the cc. If anything changes in that household you double the problem with reduced or non payments. Also, part of the cc isn't working as these are credit card holders who don't use them. Vanquis you need new door customers, adding a twin carb is not the answer. Now lets look at the Mini cooper S. Strong cc and increasing. It can drive anywhere, unlike the Jaguar. It has driven into a new area of Mexico where the potential of increasing the cc is immense. This car is nippy and going places.

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.

IMO and I keep saying this, the car fiasco is a smokescreen for other underlying problematic issues. To find out what they are, we will have to wait for the Annual Report. People are saying the CEO should come out with a statement to reassure shareholders. If there is no good news, how can he instil any confidence? Read between the lines. What is this telling you about the Annual Report? All the signs are pointing towards, dire. I hope I'm wrong.

ARahim. You quote, In 2025, the Group intends to deliver accelerated but disciplined growth across its full range of products. Take that with a pinch of salt. A totally unrealistic sweeping statement to instil confidence, that just isn't going to happen. The reason I say this is, their credit card business is stagnant and has been for the last four years. In finance it's the most difficult business to manage/control, hence the reason they are having problems. You can lead a horse to water but you can't make it drink. In other words you can issue many credit cards but you can't make the people use them.

For you who do not know the history of PFG, they split the company some years ago. PFG covered the UK and Southern Ireland and IPF the new company was international. At that time they were in Poland and to this day IPF in Poland is called Provident.

Mary. I know you looked into IPF when I mentioned the company, I was then know as Provivan. At that time you decided to go with Vanquis but obviously things have changed some what. I thought you might be interested in this.

Stonegate Capital Partners is a leading capital markets advisory firm based in the USA.

IPF Valuation: We use a DCF Analysis and a Comparison Analysis to frame valuation. For the comparison analysis we used a combination of P/E, P/TBV, and EV/EBT multiples to determine a valuation range for IPF. When we blend these multiple comparisons, in combination with our DCF analysis, we arrive at a median price range of £1.85 to £2.20 with a midpoint of £2.01.

About Stonegate

Stonegate Capital Partners is a leading capital markets advisory firm providing investor relations, equity research, and institutional investor outreach services for public companies. Our affiliate, Stonegate Capital Markets (member FINRA) provides a full spectrum of investment banking, equity research and capital raising for public and private companies.

The FCA knew prior to October 2019 about the car dealer commission and never investigated it. They only changed the rules. Now five years later they are investigating it. The Financial Conduct Authority. What sort of conduct it that. What a joke.

FCA Press Releases First published: 15/10/2019 Last updated: 15/10/2019

The Financial Conduct Authority (FCA) has today announced plans to ban the way in which some car retailers, and other brokers in the motor finance sector, receive commission.

Currently, some motor finance brokers receive commission which is linked to the interest rate that customers pay. The broker can set that rate and the FCA found that the widespread use of this type of commission creates an incentive for brokers to act against customers’ interests. The FCA estimates the changes would save customers £165 million a year.

Preventing the use of this type of commission would remove the financial incentive for brokers to increase the interest rate that a customer pays and give lenders more control over the prices customers pay for their motor finance.

Christopher Woolard, Executive Director of Strategy and Competition at the FCA said:

‘We have seen evidence that customers are losing out due to the way in which some lenders are rewarding those who sell motor finance. By banning this type of commission, we believe we will see increased competition in the market which will ultimately save customers money.’

The FCA is also proposing to make changes to the way in which customers are told about the commission they are paying to ensure that they receive more relevant information. These changes would apply to many types of credit brokers and not just those selling motor finance.

The FCA is consulting on the new rules until 15 January 2020 and plans to publish final rules later in 2020.

Before I get pulled up by someone, it should have been knew not new 😊

Something that was kept secret and screwed shareholders. It was always the governments intention to stop money being collect at the door and they succeeded by introducing impossible regulations via the FCA. Prudential had to sack all their reps and close all their offices and so did the PFG. Other finance companies had to close. The FCA managed to close down the doorstep business. Companies new their days were numbered but could not tell the shareholders the facts. PFG intended to close down PPC over a five years period but couldn't make this public. Their reports always said, in line with company expectation but their expectation was to close PPC down which the shareholders were unaware of. The CEO now has to pick up the pieces but that is where he made a huge mistake by not introducing new products soon enough. So here we are today with new management trying to sort the mess out. What sickens me is how all these companies new what was going to happen and yet kept silent about it. Who suffered the most, people like you and me, the shareholders who got shafted. The government made money through fines and washed their hands of the shareholders. Job done.

The Vanquis Jaguar compared to the IPF Mini. The Jaguar looks better than the Mini but you can't just go on looks.

Lets see what's under the bonnets. I am impressed, the Mini has a cooper S engine, and that's a plus I wasn't expecting. Now for the Jaguar, OMG it only has a 1300cc engine, no wonder it has hardly moved in the last three years. There's a brick behind the back wheel as the handbrake isn't working properly and it keeps rolling backwards. The owners tell me they have made lots of improvement but I just can't see where. Shame they didn't fix the handbrake. The performance is poor due to the engine cc size. Looks are deceptive, you need to delve deeper when buying into something. CC stands for customer count and their inability to increase it. Until they make the cc bigger, this Jaguar isn't going anywhere. So lets take a look at how positive they are about increasing the size of the cc. Look at their Annual Report and what Tracy the ICU nurse had to say, there's the answer. Signing up the spouse or partner to become another customer. the deceptive way to increase the cc. If anything changes in that household you double the problem with reduced or non payments. Also, part of the cc isn't working as these are credit card holders who don't use them. Vanquis you need new door customers, adding a twin carb is not the answer. Now lets look at the Mini cooper S. Strong cc and increasing. It can drive anywhere, unlike the Jaguar. It has driven into a new area of Mexico where the potential of increasing the cc is immense. This car is nippy and going places.

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.

PFG/Vanquis had a child and it's called IPF. IPF is the clone double of how PFG used to be 20 years ago and they are growing bigger and stronger. It will out shine the parent company in years to come and it's already started. They reported yesterday and they want to pay a 7.2 final dividend. My prediction is, this company will become over twice the size of PFG. The CEO knows the business inside out and is excellent. So why are people not investing in this company. The reason can only be, their eyes are not on IPF and that includes the experts but that will change. Watch this space.

The car fiasco is a smokescreen for other underlying issues. Vanquis are not involved. They don't pay commission to car dealers and no mis-selling is involved.

However, there is concern growing with the credit card business. Complaints are mounting.

If these complaints escalate, it's possible the FCA will get involved and investigate Vanquis and other companies.

It's just something you need to be aware of. I'm not saying it will happen but it could.

IPF Annual Report came out this morning and it was good. When one of the large banks reports the other banks share price normally go in the same direction.

Some of the posts on here are unrealistic. With Moneybarn, you apply online for the loan. This is called an execution-only application. Therefore, no advice is given and cannot possibly be mis-selling. This is the whole point of execution-only.

So how has Vanquis found themselves in this position. Here are a few facts I posted on ADVFN in January 2023.

Vanquis credit card. Looking at the last three years they have lost customers every year. Customer count 1,541m (2021).1,667m (2020), 1,720m (2019), 1,773m (2018). in three years they have lost 232,000 customers and that's the bread and butter business. At the beginning of 2021 they closed 114.000 dormant accounts. I also stated in another post, if they do not increase the customer base they are going to face big problems.

Today those dormant accounts will have built up again. Managing a credit card business is a notoriously difficult. Cards issued and not used, customers at their limit and arrears cases, neither can use them. Therefore, you have a decreasing customer base and a build up of dead wood which then impacts on profit. How are they going to grow their bread and butter business? IMO that is going to be very difficult. They need to diversify and introduce new products, which I think they are going to do, but this is going to take time. In a nutshell a decreasing customer base = a decrease in profits.

Lets get this car business done and dusted. Moneybarn are not implicated in any way regarding this matter. LLoyds bank does not sell their product at point of sale, it's the car dealer who does. Therefore, if the dealer uses the LLoyds bank finance, they are paid a commission. With Moneybarn you apply online or over the phone. No advice is given under FCA guidelines. The client can then go to any dealer and select a car and Moneybarn will transfer the money to that company. No third party is involved, it's a straight forward loan transaction between Moneybarn and the client. That being the case, no commission is paid to the car dealer.

Swingman. The shares took the hit before their Annual Report. The report was good and that is why they are now on the move up.