Amigo Share Discussion Threads

[telbap] 20/7/2020 06:21

Do mcap if 16m (3.5p) Seems harsh.Is there anything there that the market did not already know?They knew lending was ceasedThey knew free cashThey knew impairment chargeThey ineee a new chairmanThey could have easily worked out a negative epsThere will be a drop cosntuats how they make money but I don't seen3p

[love and gold] 20/7/2020 06:21

I am afraid guys, your wife, family won't love anyone of you today :(. You have lost all the family gold on this wild punt.


sbb, was claiming 10p eps.
Div
buyback

[disruptor1664] 20/7/2020 06:20

The 'told you so brigade'.They will always be there waiting in the cracks and crevasses

[the canadian mounted] 20/7/2020 06:19

Countducky why are you here?

[tomboyb] 20/7/2020 06:18

Analyst, investor and bondholder conference call and webcast

Amigo will be hosting a live webcast for investors and bondholders today at 09:30 (London time) which will be available at: hxxps://www.amigoplc.com/investors/results-centre . A conference call is also available for those unable to join the webcast (Dial in: + 44 20 3936 2999; Access code: 828935). A replay will be available on Amigo's website after the event.

[countdracula55] 20/7/2020 06:17

I warned you it was a poor and risky investment.3p on the way.

[schrodinger cat] 20/7/2020 06:17

Look at those.

[tomboyb] 20/7/2020 06:16

New chairman -

[wapper] 20/7/2020 06:16

Happy enough with that. NAV way ahead of current share price. Fair current value got to be in 25-50p range.Short term gains to be had here then wait for October. If all sorted then I believe will be taken out at around 60p. Nobody knows but just my current thinking after today's RNS. Could be way off so please DYOR. GLAH

[henchard] 20/7/2020 06:16

Henchard - 18 Jul 2020 - 16:15:46 - 3059 of 3144 Amigo - MODERATED - AMGO

Sbb1x,

I think ruthless realism is an investor's best friend. Many of your opinions simply defy common sense. Eg "If eps show 10p on Monday." There's no way on earth eps will be 10p based on what the company's already told us. Could even be negative. Q4 earnings will undoubtedly be horrendous.

OMG, far worse than I thought.

[schrodinger cat] 20/7/2020 06:15

wow. what a lucky escape. from a big profit to a big loss.

[disruptor1664] 20/7/2020 06:14

Well, fellow amigos; it has been fun.https://youtu.be/PKsr49csFYk

[jimmyboy17] 20/7/2020 06:10

Net loan book reduction of 9.1% year on year to GBP643.1m (2019: GBP707.6m)

-- Revenue growth of 8.7% (2019: GBP270.7m) to GBP294.2m

-- Impairment:revenue ratio at 38.5% (2019: 23.7%) reflecting material impact from Covid-19*

-- Operating cost:income ratio (excluding complaints) of 20.2% (2019: 17.5%) due to increased investment*

-- Complaints cost of GBP126.8m and complaints provision of GBP117.5m as at 31 March 2020 driven by an increase in complaints volumes (complaints cost 2019: GBP0.1m; complaints provision 2019: GBPnil)

-- Reported statutory loss after tax for the period of GBP27.2m, (2019: GBP88.6m profit)

-- Total dividend per share relating specifically to the financial year: 3.1p (2019: 1.87p) as paid in January 2020. To conserve capital the Board is not recommending a final dividend

-- Net borrowings/adjusted tangible equity: 2.4x (2019: 1.9x). Gearing remains low at around pre-IPO levels*

-- GBP64.3m of cash and cash equivalents as at 31 March 2020 (2019: GBP15.2m); unrestricted cash balance of over GBP135m as at 30 June 2020

-- The Board notes that a material uncertainty exists relating to going concern due to Covid-19 and the potential for either a sustained high level of customer complaints redress or a negative outcome of the FCA investigation (see note 1.1 to the financial statements). Despite this, the Board considers there to be adequate liquidity to continue to support the ongoing business activity

Operational Headlines

-- Lowering of overall Group risk appetite as the regulatory landscape continued to evolve resulting in (i) lower levels of repeat lending and (ii) increased lending to new customers, as a proportion of originations

-- All new lending temporarily paused on 24 March 2020 in response to Covid-19, except to key workers in exceptional circumstances

-- Formal sale process (FSP), launched in January 2020, terminated following withdrawal of potential acquirer. A strategic review is ongoing

-- Shareholders voted against all resolutions to remove the Board and appoint new directors at the General Meeting on 17 June 2020, which was requisitioned by Richmond Group Limited (RGL)

-- Post-year-end agreement reached with FCA on resolving complaints backlog by 30 October 2020, and FCA investigation into Amigo's creditworthiness assessments initiated

*Detailed definitions and calculations of these alternative performance measures (APMs) can be found in the APM section of the financial statements

Commenting on the Full Year results, Roger Lovering, Acting Chair of Amigo, said:

"The last 12 months have been a challenging and difficult period, which is reflected in our results today. We are operating against an evolving regulatory picture, while facing economic uncertainty due to the Covid-19 pandemic. Subsequent to our year-end, we have seen a substantial increase in the volume of complaints and this has led us to make a significant provision, which resulted in an overall loss for the financial year. We continue to engage productively with our regulators to understand the evolution in their approach and anticipate that this will remain an ongoing focus for the new Board members of Am

[the white rabbit] 20/7/2020 06:09

I think it come out of the rabbit hole at 3p-4p in opening auction. it's dire..

No div, negative eps. whereas sbb was saying 10p

[telbap] 19/7/2020 21:59

Cat man..... you have you much repeated wish not To be in this share on results day, yet you continue to post.....strange. I have a £150/pp SB open at 9.2p Disaster news, 3p, I drop £900Good news.....15p I make £750Great news....25p I make ££1600 May the odds be in your favour :)))

[automationguru] 19/7/2020 19:59

Haha Been in this for a few days now, To be honest from reading the companies financials aside from all the board issues i honestly don't see why they cant get back to 20p+ per sh. But a lot will rest on results tomorrow morning. Although given the last few months I'm not holding much hope! Might have to make a quick b line for the door.

[sbb1x] 19/7/2020 19:36

I mentioned to you the other day you might be able to buy at 10p.I will say this to you now.... you might be able to buy at 13p

[sbb1x] 19/7/2020 19:34

Bp might go up 25% . But amigo might go up 500%

[sbb1x] 19/7/2020 19:33

One of my weak posts below from last week.Final results on or BEFORE 23rd July

[disruptor1664] 19/7/2020 18:53

Coming from someone called schrodingers cat, you need to reflect on yourself....until Monday 8am, Amigo is neither alive or dead...