Provident Financial Share Discussion Threads

[fenners66] 15/3/2021 10:55

"fenners66
26 Aug '20 - 09:34 - 3890 of 4049

"CCD reported a loss before tax (LBT) of GBP37.6m (H1'19 LBT: GBP15.1m) "

But receivables were down about £100m

What is the point of lending to lose money ?

I confess I have only read the first section and not all the way through - maybe there is some better news further down."

Based on the fundamentals I was negative on PFG in August and said so on here at the time.

In terms of share price , a buyer then could have done well , if sold at the high later.
However those CCD fundamentals and presumably the internal impact of attempting to chase loans to improve profitability have come back to bite PFG.

Furlough is still to end, unemployment could yet get worse.
Now we read that CCD is a complete disaster.

This company has been heading down the toilet since the share price hit about £30.

[laptop15] 15/3/2021 10:51

I'm tempted

[laptop15] 15/3/2021 10:51

What price SBB1??

[sbb1x] 15/3/2021 10:48

Grabbed a few

[chess123] 15/3/2021 10:47

Was always on the the cards , lending at extortionate rates to unemployed, probably drop to 150p ..

[noreply1] 15/3/2021 09:30

Down 74p got to bounce from here

[diku] 15/3/2021 09:25

Morale of story is that all these run up in market/share prices one doesn't know what is lurking behind the trading statements...

[wad collector] 15/3/2021 09:19

Gives me no pleasure to be proven right

wad collector5 Mar '21 - 17:49 - 4035 of 4045 Edit

From the company website
FY’20 Results in April 2021

We are working towards finalising our FY’20 results. In accordance with guidance issued recently by the Financial Reporting Council and the Financial Conduct Authority, our results will be published a little later than usual. The final date will be published below when it is available.



Or putting it another way

We are desperately fiddling the numbers and trying to hide things in the accounts but are determined to wait as long as possible before disappointing the market

[diku] 15/3/2021 09:05

This will not be the first or the last...there will be lots more out there in between...

[diku] 15/3/2021 09:03

Where is the money?...

[jonnybig] 15/3/2021 09:00

As i said, another amigo. I remember that crashing to the 40s when they started dishing out the bad news and since then have lost another 3 quarters.

Pfg is also a dog and imo will be permanently below 100p within a month

[meijiman] 15/3/2021 08:57

Never ends well when reference is made to stakeholders. Le May is way out of his depth and should fall on his sword.

[ynot68] 15/3/2021 08:53

It's unwelcome but is it a complete disaster. Probably not. Uncertainty on costs/penalties and timescale will take its toll on share price One for the brave.

[kemche] 15/3/2021 08:50

Banana skins galore.

[pugugly] 15/3/2021 08:41

RED FLAGS GALORE
". As a result, and as part of the ongoing operational review, PFG has decided to pursue a Scheme of Arrangement (the 'Scheme') to protect the interests of all its stakeholders. Separately, CCD has been informed recently by the FCA that it has opened an investigation into certain conduct issues, specifically between February 2020 and February 2021. "

Marker at time of posting 195/196p Down 25% (down 65p)

Now I wonder how large the penalties might be?

[diku] 15/3/2021 08:41

Post 4035...yes...working from home is not working...

[jonnybig] 15/3/2021 08:41

Another amigo. A tin pot credit company run by clowns

[saltaire111] 15/3/2021 08:15

So now we know the reason for the delay...

[wad collector] 05/3/2021 17:49

From the company website
FY’20 Results in April 2021

We are working towards finalising our FY’20 results. In accordance with guidance issued recently by the Financial Reporting Council and the Financial Conduct Authority, our results will be published a little later than usual. The final date will be published below when it is available.



Or putting it another way

We are desperately fiddling the numbers and trying to hide things in the accounts but are determined to wait as long as possible before disappointing the market

[scooter100] 07/2/2021 09:35

Why RIP lol ?

[sbb1x] 03/2/2021 21:34

RIP consumer credit in the UK... https://t.co/2k0hFv4ubi

[bbarry8] 26/1/2021 18:04

For smarter folks than I...Should they bin the CCD business? What would the valuation be like for a standalone Vabquis and Moneybarn. Liquidity used to be a key issue for this business, but the banking license changed that fundamentally. Assuming capital base isn't overly impaired through this cycle, with ongoing access to liquidity, does the price accurately reflect the upside / downside, or is it more skewed to the latter at these levels?

[russ1983] 18/1/2021 10:07

the trading update has always been around the 2nd/3rd week of Jan for the past 5 years but no mention on their website....

we really need an update as the share price continues to fall

[gregsc] 15/1/2021 12:40

Anyone know when we expect a trading update? Last year it was on the 15th January.