International Personal F... Share Discussion Threads

[deadly] 26/11/2024 11:11

good news recently too, with its Polish Regulatory approval.

[novision] 28/10/2024 19:29

Got my spread bet triggered at 131p today. Hopefully not too early....

[johnrxx99] 28/10/2024 08:58

Was thinking the same but after Wednesday probably.

[peddlers] 28/10/2024 08:44

Hi all,

Bought some IPF.
Solid fundamentals.
Now sitting in oversold territory so looking forward to the price catching up.

Good luck.

P.

[ingham87] 25/10/2024 07:05

To echo most, this is a brilliant business, with great management. It's incredibly well run. The thing to watch out for is any issue or negativity with the Polish side of the business. The share price is incredibly sensitive to this.

[ttny2004] 24/10/2024 16:43

Tiswas - totally agree. Very well run company which will grow bigger and stronger over the years. Good dividend as well for income seekers. As you say buy in and average up into any share price weakness for the long term.

[tiswas] 24/10/2024 08:58

Looking good to me. Top up time?

[novision] 17/10/2024 17:55

Q3 update 24/10. Hoping for positive news on the 2nd half growth....

Interview with CEO from August here

[wad collector] 27/9/2024 16:08

Interim divi just arrived , I had forgotten what a good yield this now pays. 6.7% at today's price. If the business model is now solid , this may be undervalued still.

[wad collector] 27/8/2024 21:16

Thanks, there is a lot I don't know about the "new" companies, I lost interest when I took a big paper loss on Provident a decade or so ago. Sat on the residual shares since as like most PIs I am not very good at cutting losses.

[verymaryhinge] 22/8/2024 09:06

IPF use the name Provident outside of the UK (since they split from Provvies)

[wad collector] 21/8/2024 14:52

I just did a tour; couldn't find a specific Mexican one. Surprised to see the use of the Provident name there.

"Our customer representatives make up around 80% of the IPF workforce. The vast majority are women, with an average age of 46. Around two thirds work part-time, and their average length of service is four years.

They feel a strong sense of pride in working for Provident, and value the position of respect it gives them in their community. For millions of customers, they represent everything they love about our Company. That’s why we’re so proud of them. And why we’re working hard to show them just how valued they are."

[verymaryhinge] 21/8/2024 10:33

ah OK - they used to have investor education films about different segments of the business on their website.. seem to remember one on Mexico

[wad collector] 21/8/2024 09:55

I was thinking the vulnerability is more at a higher level; who licences IPF , who regulates them, who agrees the interest rate limits?
Obviously better to have an IPF loan than “gota a gota”.

[verymaryhinge] 21/8/2024 06:23

hmm - the model is micro loans, in cash, delivered managed and collected by ladies - not sure i can easily explain the opportunity for meaningful corruption..

[wad collector] 20/8/2024 09:13

Does look a strong chart. Guess I worry about the level of corruption in Mexico for a foreign company trying to do financial business there , having seen IPF/Prov shafted by various Eastern European financial regulators in the past but I am ignorant of Mexican financial regulation.
I suppose it is the nature of IPF that , apart from Australia , it is doing business in countries that have bigger corruption problems than Western Europe so is inherently risky.

[rcturner2] 19/8/2024 16:46

Continuing to motor very nicely, Mexico is the key here.

[rcturner2] 02/8/2024 08:33

European home credit 29.8 31.8 (2.0)(6.3%)

Mexico home credit 17.7 11.4 6.3 55.3%

IPF Digital 7.2 2.6 4.6 176.9%

Central costs (7.4) (8.0) 0.6 7.5%

Pre-exceptional profit before taxation 47.3 37.8 9.5 25.1%

Exceptional items (10.8) - (10.8) n/a

Profit before taxation 36.5 37.8 (1.3) (3.4%)

[quepassa] 31/7/2024 07:45

Panmure Liberum.

Today - Broker Research

"In Fine Fettle"

see report for full write-up

[wad collector] 31/7/2024 07:37

£80M FY for 2024 would make this cheap, even with todays rise, though the risky nature of the business will limit the upside I guess.

[nfs] 31/7/2024 07:34

Great results!10% upgrade and £15m buy back

[ttny2004] 31/7/2024 07:27

Excellent results today. Just goes to show what a well managed business can achieveSTRONG OPERATIONAL AND FINANCIAL PERFORMANCEKey highlightsStrong first-half financial performance enabling increased returns to shareholders· Pre-exceptional profit before tax of £47.3m1 (H1-23: £37.8m), up 25% on H1-23 and ahead of our 2024 internal plans.· Interim dividend of 3.4p (H1-23: 3.1p), an increase of 9.7%, in line with our policy of paying 33% of the prior year full dividend per share at the interim.· Excess capital to be returned to shareholders in the form of a share buyback programme of up to £15m. Strong demand for credit and an excellent operational performance builds growth momentum· Good demand for our broad range of financial products resulted in customer lending, excluding Poland, growing 7%2 year-on-year, with improving momentum in the second quarter.· Receivables, excluding Poland, showed strong year-on-year growth of 12%2, with all divisions performing well.· Customer lending and receivables in Poland reduced by 7%2 and 28%2 respectively, in line with our plans and total Poland receivables of £187m are now stabilising.· Exceptional customer repayment performance and excellent credit quality, delivering an impairment rate of 10.5% (H1-23: 11.4%). Major refinancing strengthens funding position to support future growth· Successfully refinanced our €341m Eurobond in June, extending the debt maturity profile to 2029, as well as leading to a rating upgrade from Fitch Ratings to BB.· Significant headroom on undrawn funding facilities and non-operational cash balances of £179m to fund the Group's plans through to the end of 2025.· Equity to receivables ratio of 56% (H1-23: 52%) underpins the Group's growth plans, progressive dividend policy and the share buyback programme. Excellent progress against our Next Gen strategy to take advantage of substantial long-term growth opportunities· Over 180,000 credit cards now issued in Poland, with the product demonstrating valuable utility for customers.· Continued growth in our geographic footprint in Mexico with a new branch opening in Mexicali.· Retail partnership credit now available in 450 stores in Romania.· Mobile wallet customers in IPF Digital increased by over 50% to 85,000 in the first half.Outlook· Confidence in delivering an acceleration in growth through the remainder of the year.· Expect full year pre-exceptional profit before tax of between £78m and £82m for 2024, ahead of current market expectations3.

[rcturner2] 31/7/2024 07:19

No one around to say what great results those are?