Provident Financial Share Discussion Threads

[topvest] 22/8/2017 08:18

I'm out at about £10. Bought at £16 and sold half at £33 and half at £10. This was a truly awful announcement. I wonder how long they had been keeping the Vanquis FCA issue to themselves? No dates included in RNS. All a bit naughty in my view as the group is clearly now Vanquis + a few other bits. Looks like they may now need a fundraising as the business is clearly out of control. Glad to get out in the circumstances. May look to buy back in a year or two.
In the circumstances very pleased to get out at about £10. Think this is going a lot lower as the balance sheet now has a £100m-£200m hole in my view.

[grahamite2] 22/8/2017 08:14

Sorry to hear that, wilmherk. I got caught on Carrillion and was lucky to avoid this one.

[mister md] 22/8/2017 08:13

Dont average down on a sh*t share, just buy something better instead

[grahamite2] 22/8/2017 08:12

Woodford must be in frequent contact with top management. What the hell have they been saying to him? A monster lawsuit must be a real possibility, no?

[wllmherk] 22/8/2017 08:11

thanks RF, that is really helpful

wllm

[salpara111] 22/8/2017 08:10

Talk about a stunning own goal.

An entirely self inflicted screw up!

[my retirement fund] 22/8/2017 08:09

Loan sharks getting the kind of kick in they deserve here imo. Hope they go bust !

[wllmherk] 22/8/2017 08:08

I will average down as to sell now would mean a huge loss banked. Unfortunately I'm not sure where the bottom is, what a shocking couple of months Ive had between this and CLLN.

wllm

[sippguru] 22/8/2017 08:05

Enough for Woodford to stand down? He has the Judas touch now. If he has really been with the management and given reassurances. Either they lied or he did. Today is going to cost him badly. I wonder if he’ll keep averaging down.

[bookbroker] 22/8/2017 08:01

Huge profits warning, whole model in pieces and to slash the dividend announced not so long ago to protect the balance sheet appears to suggest even the stability of the whole company!

[bumpa33] 22/8/2017 07:55

Uncrossing at 802 at the moment. That's one of the worst TU's I've ever seen.

[manics] 22/8/2017 07:52

Called -25% at open.

[sippguru] 22/8/2017 07:49

Next stop 1500. Could well touch 1400 today. Value of loan book less a bit. Busted flush. Time to break this shocking business up and sell for parts. But first lock up the board. Incredibly incompetent management. If any of them holds a significant influence function again the FCA has failed.

[pugugly] 22/8/2017 07:47

spob> Many a true word spoken in jest !! Maybe !!

[spob] 22/8/2017 07:45

who's next to axe an unpayable divi

it just couldn't happen to Shell... could it ? LOL

[grahamite2] 22/8/2017 07:43

Looking at yesterday's chart, can anyone believe this didn't leak?

[spob] 22/8/2017 07:39

It seems i was right to be sceptical

if it looks too good to be true .....


no cashflow no dividends

[tsmith2] 22/8/2017 07:38

Uninvestable?

[sippguru] 22/8/2017 07:38

Well this was almost entirely predicted. Management are completely dishonest and have lied about their failings in every update and RNS. Time to call them out for it and lock them up.

[pugugly] 22/8/2017 07:36

And what else is still to be uncovered - FSA investigations - ?? Penalties and restitution ?? Should be one of the top 3 top list fallers at start (imo) Top position reserved for Sphere Medical - Bargepole - do not touch - comes to mind.

[riskvsreward] 22/8/2017 07:28

I cannot believe both Woodford and Barnnet at Invesco have been adding to their already huge position in this company and Woodford was even worse making a blog saying that they talked to the management to ensure all is well and the problem is only a transitional one which will lead to better process and profit in future so they were confident to add to their position only about a few weeks ago. Were they lied to?

[manics] 22/8/2017 07:25

He's robbed back the divi ...what a "Crook"!