Morses Club Share Discussion Threads

[jimmysmith1985] 07/10/2021 07:44

Unless they tailed off in the half but still higher. Would have been nice to have had a complaints have since fallen comment

[jimmysmith1985] 07/10/2021 07:11

Complaints have grown in H1 2022 - maybe his comments were inaccurate about them fallingReally poor

[jimmysmith1985] 07/10/2021 07:07

Extended time span for digital break even to H1 2023

[jimmysmith1985] 07/10/2021 07:05

On first look digital profit is poor and marginally similar to last year with noImprovement

[jimmysmith1985] 05/10/2021 08:35

Someone dumping 50k blocks into results doing damage

[jimmysmith1985] 01/10/2021 15:07

Same old same old hereUp to 80pDown to 70pSame old tired faces banging the drumI'd rather an institution bought than some silly old Twitter self appointed expert

[clocktower] 01/10/2021 13:07

Maybe a few sellers are taking profits and to meet early Christmas shopping bills are top slicing.
I think the fear factor caused by the fuel situation and gas price rises are making some turn to hedge a bit of cash.
A lot of firms may suffer because of rising energy costs.

[smithie6] 01/10/2021 12:58

Morse increases its loan book & % of the market & various competitors have given up HCC lending

& yet the Morse share price is weak this week,

the mkt has got it wrong imo & is not taking full notice of the news

...UK investors/shareholders get bored/stale too easily imo

[jimmysmith1985] 01/10/2021 09:55

It was in an investor presentation interview about 4 months agoHe stated FOS complaints have halved and continued to reduce

[farrugia] 01/10/2021 09:51

I think peaky is playing with fire.

'Farrugia they have already said the number halved in the next period not yet reported'

where can i read about that?

[jimmysmith1985] 01/10/2021 09:05

Farrugia they have already said the number halved in the next period not yet reported

[clocktower] 01/10/2021 08:59

With a lack of news it’s hard to keep posting about nothing but trades. Unless someone has picked up useful info I guess they do not want to spend time on this thread.

[farrugia] 01/10/2021 08:58

opaldouglas;

Morse's Complaint Numbers

2021 h1 1585 (Estimated upheld rate of 65%?)
2020 h2 794 (upheld 63%)
2020 h1 224 (upheld 65%)
2019 h2 53 (upheld 66%)
2019 h1 below 30


so h1 2021 1585 complaints?

isn't that an alarming increase?

[jimmysmith1985] 01/10/2021 08:52

At least a peaky appearance lifts the boredom here. Can't blame a few selling in the news vacuum. Thought a umoney update was due

[clocktower] 01/10/2021 08:35

Not relevant Peak01 so on your bike ramper.

[peaky01] 01/10/2021 07:33

I can see amgo hitting 2quid soon

[peaky01] 01/10/2021 07:33

......on 28 September 2021, Amigo submitted a revised Scheme proposal, incorporating feedback from the ICC, along with its future business plan to the FCA and the ICC......

[peaky01] 01/10/2021 07:32

Morses will issue profit warning soon.... these will be back at 30p

[peaky01] 01/10/2021 07:31

Anyone fancy some Amigo?

[peaky01] 01/10/2021 07:31

My old pals. How are u all.Nice to see you boys hit 1quid!

[smithie6] 26/9/2021 14:07

I liked this part of your post.

"To put things into context MCL expect to save 2m this year and a further 1m next year from moving HCC collections online. Paul confirmed in June presentation that claims had halved over the last 3 months so expect claims will likely fall for the rest of the year."

======

lending to people with low incomes.....difficult, the risk of the client lying during the application process is very real I think, & of course the lender wants to lend & make a profit since that is the business they do, difficult to get the balance right as shown by Amigo, NSF, Provident etc
but Morse looks to have behaved very well & surely must massively increasing its market share etc with many competitors not doing new lending.

[smithie6] 26/9/2021 14:03

excellent detailed post

after a good bit of work

thanks for sharing

[opaldouglas] 25/9/2021 15:47

For the sake of ease, I'll just reiterate my previous comments for a comparison before adding new data to bottom of post.

652 upheld complaints in 2020 for MCL, avg HCC loan of £327 @70% interest equals £229. So £149,242.80 extra impairment for 2020. This is really a drop in the ocean and has already been covered by trading statement earlier this month ahead of expectations.

Provident's complaints have indeed been going through the roof recently, complaint are up from 3536 in 2020 h1 to 10387 in h2 of which 74/75% are upheld in the customers favour.

Provident Complaint Numbers
2021 h1 10973
2020 h2 10387 (upheld 75%)
2020 h1 3536 (upheld 74%)
2019 h2 1930 (upheld 59%)
2019 h1 1131 (upheld 47%)

To put this into context Provident's CCD division had circa 379,000 customers in h1 2020, that's a complaint rate of 0.93%, this has now risen to circa 2.74% in h2 2020.
Morse's is really a different story in terms of numbers, complaints have indeed increased, but by a much smaller number. from 53 in h2 2019, to 224 in h1 2020 and finally 794 in 2020 h2.

Whilst any increase is of course unwanted, Morse's does have a lower upheld rate averaging 64%. See figures below:

Morse's Complaint Numbers

2021 h1 1585 (Estimated upheld rate of 65%?)
2020 h2 794 (upheld 63%)
2020 h1 224 (upheld 65%)
2019 h2 53 (upheld 66%)
2019 h1 below 30

To compare the two Morse's HCC customer complaints ranges from 0.13% to 0.46% in 2020, Provident ranges from 0.93% to 2.74% in 2020 with a much larger customer base.

Provident CCD customers numbers in h1 2020 was 379,000 vs Morse's 170,000. This really reinforces my view that Morse's does focus on quality over quantity and backs up Morse's ethos and customer review data that they are always so keen to reference.

Morse's had 1018 customer complaints in the whole of 2020, at 64%, that's 652 complaints upheld. It's unlikely this will impact FY 2021 results due out 13th May as we've already had a beat on expectations from the Morse's via latest trading statement. Certainly one for all investors to watch but in my view comparisons with Provident are unwarranted.

Sep 21 Update:

H1 figures, 1585 * 65% (estimated upheld rate) = 1030 successful claims. Avg HCC loan of £327 @70% interest equals £229 (have used h2 2020 figures for ease), so 1030 x 229 = £235,870.00 claims payout.

To put things into context MCL expect to save 2m this year and a further 1m next year from moving HCC collections online. Paul confirmed in June presentation that claims had halved over the last 3 months so expect claims will likely fall for the rest of the year.

All the best,

OD

[smithie6] 25/9/2021 12:20

"correction"

is your post 135 then incorrect ?

perhaps delete it ?