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PFG Provident Financial Plc

225.00
0.00 (0.00%)
18 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Provident Financial Plc LSE:PFG London Ordinary Share GB00B1Z4ST84 ORD 20 8/11P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 225.00 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
223.60 224.80
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 225.00 GBX

Provident Financial (PFG) Latest News

Provident Financial (PFG) Discussions and Chat

Provident Financial Forums and Chat

Date Time Title Posts
02/3/202308:27PFG4,192
30/3/202122:46good for a short on tonights PANORAMA?19
15/2/201914:39Why is the management of this company letting over-zealous politician destroy it4
06/1/200913:42PROVIDENT FINANCIAL GROUP.19
14/2/200617:18TREAT THE KIDS AT EASTER WITH A PFG SHORT!60

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Provident Financial (PFG) Most Recent Trades

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Provident Financial (PFG) Top Chat Posts

Top Posts
Posted at 27/1/2023 09:10 by 1cutandrun
PFG said that its CEO is to step down, while its fourth quarter trading remains in line with market expectations. Really, so why is he stepping down? Knowing how the PFG operate, he was asked to step down or bye bye. Not looking good for the full year report. Get shot of the CEO before the report comes out, so they can now say they have taken action to turn the business around with a new CEO and by changing the company name. They dug themselves a big hole and virtually impossible to get out of it without making changes and a new direction. Expect the customer growth to be down or minimal. Either way I reckon the increase of dead wood customers will outweigh any growth.
Posted at 19/1/2023 13:14 by 1cutandrun
When I asked on here last year, can anyone see where the customer growth was coming from in the next year, nobody replied. I wonder why? Maybe everyone else had the same thoughts. I've just watched the IPF investor webinar Mexico Home Credit 18_01_2023. The good old solid PPC business before the FCA got involved. Worth watching this as the customer growth potential is huge, unlike PFG.
Posted at 15/11/2022 08:37 by stewart64
Yep I like the balance sheet too. It's pretty solid, the long term borrowings of 900m are almost offset by 700m in cash. The loan book is therefore virtually unleveraged and it trades at a fraction of balance sheet value.

I'm not a holder. Anything super sensitive to UK plc is in the dog house at the moment. The fact it has recently risen from 130p ( be it a very brief capitulation) also makes me feel like I have missed the boat. Nevertheless the price should improve from here. If it doesn't I may get interested. Though I am a bit overweight in financials such is the value on offer.
Posted at 24/10/2022 16:45 by theborn
Net Assets on Balance Sheet are £600m+ including current provisioning deductions.
Current share price values company at £350m.
So with c240m shares in issue you're looking at £2.50 per share on a net asset basis.
Current EPS is 3.5x (should be closer to 10x).
Market seems to forget PFG have shifted focus to near prime and in general the customers have higher resilience to downturns.
Read H1-21 investor presentation on the website. They already hold specific provisions for cost of living and rising interest rates.
Over sold. 2 or 3 times over.
Despite lack of transparency from management.
Posted at 05/10/2022 18:15 by 1cutandrun
I did try to warn investors on 11th Aug 2021 when the share price was £3.40 and again on 1st June 2022. If PFG doesn't increase the customer base, there will be big problems. A small increase will not be good enough as dead wood customers will have already started to accumulate again, after clearing out all the dead wood the previous year.
Now the chickens have come home to roost.
Can anyone see where the growth is going to come from in the next 12 months?
Posted at 15/9/2022 08:15 by masurenguy
Gervaise Williams of Diverse Income Trust likes the current PFG valuation and yield.
Posted at 25/8/2022 15:58 by theborn
Div was 5p and went ex div last week, so nothing to do with that.

Share price drop is down to management being perceived as value destructive.

Balance Sheet NAV is >£600m. Current market value priced on share price is £440m. Shre is trading at a 27% discount to book value. That's pretty much unheard of. Long term view of the management is they are value destructive to the business and incompetent.

Valued on book value and no hope value the shares should be trading at £2.40. Under a moderate management team >£3.00.

It's appalling. Summed up by releasing mid-year results which fell way short of market consensus and professing to be 'delighted' by the performance.

They need a shake up. I hope a white knight rides in for a takeover giventhe current discount to NAV.
Posted at 28/6/2022 13:41 by theborn
A colleague who is also an investor in PFG asked some questions to PFG via email to be addressed at the AGM tomorrow. PFG kindly provided responses to these. Obviously, none of this information is market sensitive but given some responses address points often raised on these PFG notice boards I thought I would share for the benefit of fellow shareholders:

q1) Appreciate purpose of AGM is to approve or reject specific actions. As some of those actions relate to dilution of the share base the current shareprice, about to dip below £2, cannot be ignored. I would appreciate an indication from management as to performance during the current year and their view on what must be done to address the falling share price. - a1) We published our first quarter update in May, covering the trading period from January to March, and we plan to release our half year results at the end of July this year. This will cover the period from Jan to June 2022. I am unable to provide a more wholesome trading update outside of those updates. However, you will see in our first quarter update that asset quality across the business remained high and the underlying credit demand from customers was strong. We have no current plans to dilute the share base. The Board and I share your disappointment with the share price. However, with such an uncertain economic backdrop at present in the UK and high levels of volatility across equity markets, we must focus on making sure that we support our customers by providing them with the assistance they need and managing the things within our control.

q2) Linked to above, shareholders who have stuck with PFG deserve to know what management expectations actually are for this year and future years. Trading updates often refer to 'in line with management expectations' but I've never seen these expectations explicitly set out at the start of the year? I appreciate analysts have their views, but if PFG are linking management views to a particular analyst consensus this needs to be made clear. I want to know what EPS and divi target is for current year and 3 year look ahead. - a2) I am unable to provide you with what our internal budget and forecast models say about the financial direction of the company. References to “in-line with management’s expectations” are designed to provide shareholders and the market with an element of comfort that the external perception of how we are performing as a business matches that of the stock market.

q3) Update on provisioning and portfolio performance in the current high inflationary environment. - a3) Please refer to our first quarter trading statement on our website for the most up to date information.

q4) Update on the personal loan pilot which has been referred to a lot in past 18 months. Is this now delivering positive returns?- a4) As stated within our first quarter trading statement, the personal loans pilot phase will be assessed at the end of June and an update will be provided end July.
Posted at 01/6/2022 13:58 by theborn
I do sympathise with what you are saying, as the 'in-line with management expectations' does indeed get reeled out a lot. And there probably is still a lack of trust around events of the past few years.

We'll know more with the half year update which should arrive in c.6 weeks.

However, my argument is based on the current share price in relation to how the company sits today. This share was trading at £5+ even in the peak of the PFG meltdown and is today trading at 250p despite an analyst consensus of FY22 earnings of c.40p ps. I'm not saying this is a £10 share today, but if the price started with a £4 there won't be too many people arguing the financials don't support it.

It's undervalued, and in my opinion significantly.
Posted at 26/8/2020 10:11 by discodave45
Current unemployment is about 3.9% (1.34m). Some forecast this may double for 2020 (Https://assets.kpmg/content/dam/kpmg/uk/pdf/2020/06/uk-economic-outlook-june-2020.pdf), but as ever nobody knows.That aside during the financial crash PFG share price was £4 but continually rose for 7 or so years and hit £30.......so did more than okay post economic downturn and I wouldnt mind that sort of return again!.
Provident Financial share price data is direct from the London Stock Exchange

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