Pcf Share Discussion Threads

[the big fella] 22/10/2018 20:51

I already have a large holding. One of the few I have decided to keep regardless. The recent news flow has only reinforced that view

[geraldus] 22/10/2018 19:58

Seems to be positioning itself very nicely to move forward with strong momentum but general lack of confidence in markets at the moment possibly holding it back.If it does weaken I would be very tempted to top up to quite a large holding. GLA.

[the big fella] 22/10/2018 11:49

Indeed. However PCF have been tipped in the press and given the recent positive news flow I am sure there will be further positive coverage going forward. The wider market is poor but this will remain a stock pickers market. This will be a winner over the medium term

[graham1ty] 22/10/2018 11:47

Really disappointed reaction so dull...

[graham1ty] 22/10/2018 09:16

Carcosa, I think Scott is incredibly cautious. With the current growth, and Azure, I think you are right they will hit the £350m early. He just does not want to over egg it.

I think most interesting will be upgrades to forecasts for, particularly, 2020. If they get substantially upgraded ( as Scott’s operational gearing comments suggest, then we should move to a better valuation.

Do analysts really think Net Interest will only grow by 8% in 2020 ? And eps by only 15% ? That would be the very opposite of operational gearing. There might be another fundraising at some stage to allow for the larger capital requirement. But not for a while. And the forecasts for 2020 (and really 2019) now look out of line with the underlying growth

[cc2014] 22/10/2018 08:37

You have missed nothing carcosa. The £350m now looks like a walk in the park and we can now focus on the second target of £750m by 2022 which to my mind was ambitious but now less so. I assume this now to be £800 with Azure.

[carcosa] 22/10/2018 08:24

Can someone come along and tell me what I am missing wrt the overall lending portfolio? Seems the initial 350m target is no longer a real challenge. when looking at the portfolio growth required. Items in Blue are my estimates:



Today they stated "The months of August and September 2018 were consecutive record new business origination months for the Group" so if I understand that correctly the growth rate is actually increasing and not decreasing as I have show in my table (??)

"Our portfolio has continued to increase rapidly and we are confident that our target to grow the lending portfolio, through organic growth in existing products, to £350m by September 2020 is on track."

So this is before the effect of the recent Azure acquisition which they state will bring in "...origination capability of over £50m per annum." Does that mean £50m per annum in new lending??? Can someone explain? If it does then the £350m target is actually £450m

Would appreciate some considered feedback to help my understanding of lending portfolio growth.

[graham1ty] 22/10/2018 08:09

Need to look out for new forecasts. The Sept 18 results are now “in the bag” and confirmed by the Company today. We have forecasts for Sept 19 at c3p. But what we need the market to do is focus on the following year. If the forecast for Sept 20 comes in at about 5p, then these are very very cheap

[graham1ty] 22/10/2018 07:45

Reads pretty well. The growth rates are astounding: in new business, total book and retail deposits.

Had hoped for a “beat expectations” however as operational gearing really kicks in....

[michaelmouse] 22/10/2018 07:24

Trading in-line. Very encouraging.

[geraldus] 19/10/2018 15:51

Must admit Graham l thought there would be a bounce back before Monday.

[graham1ty] 19/10/2018 15:45

Well, looks like a trading statement on Monday then. I hope they have some positive news. GLA

[carcosa] 08/10/2018 15:40

[...]

Link on proactiveinvestors.co.uk/companies/stocktube/10769/pcf-group-acquires-uk-specialist-finance-provider-azule-limited-10769.html

Scott Maybury, chief executive of PCF Group Plc (LON:PCF), discusses with Proactive Investors the acquisition of UK specialist finance provider Azule Limited for up to £5.6mln.

[russman] 08/10/2018 14:57

Think it is a fair deal.

[geraldus] 08/10/2018 14:08

Does seem like this should be a good fit and as they say,ticks the boxes.Await the update which I would think will be in line but also have earnings enhancement.He's bound to do a video soon, stay tuned.

[cc2014] 08/10/2018 08:26

Seems a very pleasing acquisition. I agree with you on the TU Graham. I don't think it's reasonable to have a floating TU data. People have plans and some of us organise our time around these events.

[graham1ty] 08/10/2018 07:29

Reread RNS. Trading update due on 22 Oct, or earlier if FCA approval for the acquisition come earlier.

But still, if they could get the TU out on 27 Sept last year, why not make sure it is ready now ?

[graham1ty] 08/10/2018 07:12

Looks like a really good earnings enhancing, niche acquisition. Presumably been borrowing on wholesale markets, so PCF will provide far lower cost of money, and immediate boost to profitability.

But why no trading statement ? Would have made sense for PCF to issue that simultaneously ?

[graham1ty] 25/9/2018 08:28

Should be a trading statement any day now. Year end is 30 Sept and last year T/U was 27 Sept

[cc2014] 20/9/2018 16:55

I'm getting bored with whoever is dumping shares in PCF. 20k and 25k lumps by the look of it.

They will run out eventually I guess

[cc2014] 12/9/2018 14:34

There seems to be a fundamental change in outlook towards this share since the weekend. I have to assume someone read the Midas tip who works for a fund as the buying seems to be alot more than PI's.

The sell price has now settled above 40p convincingly and it's been 41p to sell for the last four hours. Slowly we are wearing down the MM's and there's only one left at 42p now.

All looking good imho

[cc2014] 11/9/2018 11:24

So, a couple of things. First this article from a month ago which shows Scott has been busy recruiting. All good as you need good people in a fast growing business.

Link here

The Midas article contains some new information on the portfolio size.

At 31st March 2017 128m
At 30th Sept 2017 146m
At 31st March 2018 179m
Midas 200m

The £350m by 2020 looks very do-able based on these growth figures.

[cc2014] 10/9/2018 09:07

Nice flow of buys this morning slowly driving up the price. Not before time.

There seems to be some appetite for LLOY and RBS today so maybe it's not just the Midas tip

[geraldus] 09/9/2018 09:51

Thanks for that link.Should bring in some new money and interest.

[yupawiese2010] 09/9/2018 00:46

Tipped by Midas.