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Funny how the share price rose 25% yesterday in the lead-up to today's Results. Did people get wind of something to make them go bullish all of a sudden? Did they think today's results would surprise on the upside? Seems logical that they did. Anyway, those that piled in yesterday got horribly spiked, didn't they? Very weird... Anybody got an interesting explanation?

She's a smooth talker (the CEO), but I no longer believe her. It's the same old, dame old, but without tangible, measurable progress. Credibility has worn thin because at some point, as an investor, you have to wake up and realise you've been taken for a sucker. Avoiding the customary Q&A part of the presentation is a pointer too.

Mr Market has given up on this company. Credibility of management is shot. All those promises that next year it'll be different.....

Then there's the current negativity towards AIM in general which I guess will last until the end of Oct when we find out what Rachel Reeves may or may not do.

Talk about an investment turning sour.

Looks like the market got ahead of itself. Bit of a reality check.

Interesting share price action these last few days. Every time there's just a little strength, it gets sold into and the sp quickly falls back to square one. Happening every few hours. Here's me thinking it means something... but who knows?

...has determined this is a value trap. An exit was possible at 330p just a few weeks ago, but that feels a long way off now.

Recovery stories, eh? They can stay unloved forever!

Another leg down today. Should've sold some in the mid-80p's. This febrile market encourages trading, not buying & holding.

...quite a comeback mind....

Touched £4, who the heck is selling I wonder?

As predicted here, Results were indeed bad, although it seems it came as a surprise to Mr Market!

Was replying to BeardedDragon's post. Didn't know about the broker downgrade. Was that yesterday? Who was it?

Don't agree with that. The same level of uncertainty existed a week ago. The failure to reinstate the dividends was no surprise at all, at least to me, it was expected that the divi would be suspended until the motor finance issue was settled. Any other ideas for the fall anyone? Or perhaps just an illogical, mercurial market?

Why would there be such an extreme negative reaction to yesterday's results? They traded well, They're selling the wealth management division for "27 times its statutory operating profit after tax", and being prudent by keeping the proceeds in reserve. All good. Then this reaction. Does anyone have a theory about it?

Mad isn't it? Initial reaction to yesterday's results was up 5% !

This is a mercurial share! Made some money on it back in 2023, then lost some at the start of 2024... and here I am aniffing again! Should I? On the face of it, the company's biggest shareholder offloading a chunk at an all-time low price looks, well, terrible, but on the other, we're now almost 10% below that fire sale price.... hmm, tempted...

Let the other lenders continue with their payouts and buybacks, they will face the music when the fines finally get levied. Quite happy that Close Bros stay prudent until they know the quantum of the liability.

Changing the subject, this morning's share price reaction to the Results was interesting. Up 5% in the first hour of trading, then, suddenly, an about-turn and a 15% plunge from the morning's high. Market confused and febrile? I'd say so!

Yes, I don't have much sympathy for people who fall for these rampers in hopeless situations like this, but I doubt it's because of low intelligence... more likely they have the gambling bug. People badly afflicted with it should not self-invest.

Thanks my2penneth, some informed posters here. So about a third of revenue in Nigeria and probably a bit more of Africa in the 'Other' category too. As for profit, seems about about a half from Africa? I don't know, but to want to reduce the business by 50% seems a weird step to me, notwithstanding the operational problems within the 50% that they want to cull. Unless a top price is obtained of course... but I somehow doubt that. I take the point about management wanting to focus on their truly global brands, but how can they call themselves global if they entirely walk away from the territory of Africa?

I also don't get today's fall as (as far as i know) everything was previously signalled.

Thanks, ftseexplorer and I now see the rationale. Do you or anyone else have an idea of what percentage of total sales relate to Africa? Trying to gauge what would be left in the business.

When they say a full or partial sale of their 'African business', are they referring to production in Africa or the selling into that continent? If the latter, what's left of PZC because most of their sales are African-based, aren't they? Forgive my ignorance if I've got this wrong.