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PFG Provident Financial Plc

225.00
0.00 (0.00%)
18 Mar 2024 - Closed
Delayed by 15 minutes
Provident Financial Investors - PFG

Provident Financial Investors - PFG

Share Name Share Symbol Market Stock Type
Provident Financial Plc PFG London Ordinary Share
  Price Change Price Change % Share Price Last Trade
0.00 0.00% 225.00 00:00:00
Open Price Low Price High Price Close Price Previous Close
225.00 225.00
more quote information »

Top Investor Posts

Top Posts
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 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 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 16/7/2020 12:21 by discodave45
Bit of a promo for Stocko but the assessment is IMO valid, quality and value.HTTPS://www.stockopedia.com/amp/why-provident-financial-is-a-mid-cap-stock-for-contrarian-investors-90433/
Posted at 03/10/2019 11:53 by melmoo
I wonder how many private investors still hold PFG shares that they bought for over £30? What is the likelihood of those levels being reached again?
Posted at 27/6/2019 21:20 by bookbroker
Personally, I do not think there is a rational market in this company’s shares currently, you have Woodford who is desperately trying to raise cash for redemptions, and his get out for a reverse takeover by NSF went by the wayside, and you have Invesco and Marathon who both supported the bid now disgruntled shareholders. The falls here do not reflect the trading performance as recent statement suggests an improvement. But I m still in the dark, director buying can not simply be a way of reassuring investors, it has little effect in that department these days, and why would they throw good money after bad! Someone wants to get out at any price, and that is most likely Woodford or Marathon, but a false market exists here!
Posted at 25/6/2019 08:59 by gregsc
Couldn't agree more bookbroker. He has interfered with other companies I am invested in, such as Stobart. A lot of publicity has been given to prisoners of his funds but what about ordinary investors in companies he now has to sell.
Posted at 16/5/2019 10:01 by gregsc
Woodford is to blame for this debacle (met him once at a Fidelity meeting)

From "This is Money" this morning.

John van Kuffeler's battle to buy the doorstep lender has been backed by investors who own just 53.53 per cent of its stock, a stock market filing revealed last night. Although it technically puts him in control, he will not be able to cancel the Provvy's listing or merge it with his business, Non-Standard Finance (NSF), as planned.
NSF last night said it will give other shareholders time to reconsider. If it can get to 75 per cent or above a full merger between the two businesses can go ahead. This is well short of the 90 per cent backing van Kuffeler initially aimed for. But if this level is not reached they will have to remain separate with their own management teams, undermining NSF's main argument for doing the deal.
The result will be seen as particularly unimpressive because when NSF launched its takeover bid in February it had already won the backing of three major investors – Invesco, Woodford Asset Management and Marathon – which controlled 50 per cent of the company's stock.
It means that despite a bitter takeover battle which has raged for months, NSF has only convinced another 3.5 per cent of Provvy investors to come on board.
NSF now needs to secure support from regulators by June 5 for the deal to be approved.
Posted at 08/5/2019 06:09 by richardbrook1
In the times this morning

The doorstep lender trying to fend off a £1.2 billion hostile takeover received a significant boost after one of its biggest shareholders spurned the bid and criticised investors backing the deal.

Schroders, the third largest shareholder in Provident Financial with a 14.6 per cent stake, yesterday became the first investor to publicly reject an all-share offer from Non-Standard Finance, a smaller sub-prime lender. Its opposition means that Non-Standard Finance now cannot fulfil its target of securing the backing of investors owning at least 90 per cent of Provident’s shares, although it could lower its acceptance threshold.

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