19 Jul 2018 16:01
Hardman & Co Research Hardman & Co Research: Morses Club (MCL): Quality Street 19-Jul-2018 / 16:00 GMT/BST Hardman & Co Research: Quality Street We have repeatedly asserted that providers of Home Collect Credit (HCC) need to understand their customers' thinking in order to lend profitably. Equally, to properly appreciate the risks and rewards that the HCC companies offer investors, we need to understand their corporate culture. In this note, we review MCL's focus on quality, giving practical examples of how the group aims to generate sustainable profit growth. Conservatism runs throughout MCL's lending, accounting, agents, customer selection and new product development. We have not changed our steady growth forecasts, and our valuation range remains 171p to 197p.Please click here for the full report: http://hardmanandco.com/docs/default-source/company-docs/morses-club-plc-documents/morses-club---quality-street---19-07-18.pdf
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706421 19-Jul-2018
corporate announcement transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.