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United Kingdom

Provident Financial PLC (PFG.L)

PFG.L on London Stock Exchange

377.90GBp
22 Aug 2019
Change (% chg)

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803,265
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705.80
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348.70

Latest Key Developments (Source: Significant Developments)

Lender NSF Posts Bigger Loss After Failed Provident Financial Bid
Tuesday, 20 Aug 2019 

Aug 20 (Reuters) - Non-Standard Finance PLC ::HY NORMALISED REVENUE UP 12% TO £88.3M (2018: £78.9M); REPORTED REVENUE OF £87.1M (2018: £75.1M).HY NORMALISED PROFIT BEFORE TAX UP 12% TO £6.3M (2018: £5.6M) LED BY A STRONG PERFORMANCE IN HOME CREDIT.HALF YEAR DIVIDEND PER SHARE UP 17% TO 0.7P (2018: 0.6P PER SHARE).TRADING IN-LINE WITH MARKET EXPECTATIONS AND WE REMAIN CAUTIOUSLY OPTIMISTIC ABOUT FULL-YEAR.WHILST MACROECONOMIC UNCERTAINTIES REMAIN, GROUP REMAINS RESILIENT AND WELL-PLACED TO MEET ITS OBJECTIVES.SEE A STRONG LEVEL OF DEMAND IN BOTH BRANCH-BASED LENDING AND GUARANTOR LOANS WHILE IN MORE MATURE HOME CREDIT MARKET, DEMAND REMAINS STEADY.NET LOAN BOOK ACROSS ALL 3 DIVISIONS AS AT 30 JUNE 2019 GREW BY 26% FROM £267.4M AT 30 JUNE 2018 TO £335.6M BEFORE FAIR VALUE ADJUSTMENTS.EXCEPTIONAL CHARGE OF £25.3M (2018: £NIL) INCLUDES FEES AND COSTS ASSOCIATED WITH OFFER FOR PROVIDENT FINANCIAL PLC OF £12.7M.  Full Article

Provident Financial CFO Steps Down For Health Reasons
Tuesday, 30 Jul 2019 

July 30 (Reuters) - Provident Financial PLC ::PROVIDENT FIN.PLC. - DIRECTORATE CHANGE - SIMON THOMAS.PROVIDENT FINANCIAL PLC - SIMON THOMAS, CHIEF FINANCIAL OFFICER, HAS NOTIFIED BOARD OF HIS INTENTION TO STEP DOWN.PROVIDENT FINANCIAL PLC - SIMON THOMAS, CHIEF FINANCIAL OFFICER TO STEP DOWN FOR PERSONAL HEALTH REASONS.  Full Article

Provident Financial HY Group Adj. Pretax Profit Of 74.9 Mln Stg
Tuesday, 30 Jul 2019 

July 30 (Reuters) - Provident Financial PLC ::INTERIM RESULTS FOR SIX MONTHS ENDED 30 JUNE.HY GROUP PROFIT BEFORE TAX AND BID DEFENCE COSTS UP 76.9% TO £61.2M (2018: £34.6M).HY GROUP ADJUSTED PROFIT BEFORE TAX OF £74.9M (2018: £74.9M).INTERIM DIVIDEND OF 9.0P PER SHARE (2018: NIL), UNDERPINNED BY GROUP'S ONGOING RECOVERY.HY VANQUIS BANK'S PROFIT BEFORE TAX REDUCED TO £85.0M (2018: £97.2M).FCA INVESTIGATION AT MONEYBARN CLOSE TO BEING CONCLUDED.FIRST SIX MONTHS OF 2019 HAS SEEN A RENEWED MOMENTUM IN DELIVERY OF GROUP'S LONG-TERM STRATEGIC OBJECTIVE.LOOKING FORWARD TO FULL YEAR, BOARD CONFIRMS THAT OVERALL GROUP CONTINUES TO TRADE IN LINE WITH INTERNAL PLANS.BOARD IS TARGETING CCD RETURNING TO PROFITABILITY IN SECOND HALF OF 2020.HY VANQUIS BANK REVENUE HAS SHOWN AN 11.2% REDUCTION TO £294.6M IN FIRST HALF OF YEAR (2018: £331.9M).  Full Article

Schroders Discloses 14.012% Stake In Provident Financial As Of July 24 Vs Prior Stake Of 13.749%
Friday, 26 Jul 2019 

July 26 (Reuters) - :SCHRODERS DISCLOSES 14.012% STAKE IN PROVIDENT FINANCIAL AS OF JULY 24 VERSUS PRIOR STAKE OF 13.749% - FILING.  Full Article

Coltrane Asset Management Raises Stake In Provident Financial To 6.04% - Filing
Tuesday, 2 Jul 2019 

July 2 (Reuters) - Provident Financial PLC ::COLTRANE ASSET MANAGEMENT, L.P. RAISES STAKE IN PROVIDENT FINANCIAL TO 6.04 PERCENT AS OF JUNE 28, FROM 4.01 PERCENT EARLIER - FILING.  Full Article

Provident Confirms Appointment Of Robert East As Vanquis Bank Chairman
Wednesday, 26 Jun 2019 

June 26 (Reuters) - Provident Financial PLC ::DIRECTORATE CHANGE.JONATHAN ROE, CURRENT CHAIRMAN OF VANQUIS BANK, WILL STEP DOWN.CONFIRMS ROBERT EAST WILL BE APPOINTED AS NON-EXECUTIVE DIRECTOR AND CHAIRMAN OF VANQUIS BANK LIMITED WITH EFFECT FROM 26 JUNE.  Full Article

Coltrane Asset Management Discloses 4.01% Stake In Provident Financial As Of June 5 Vs Prior Stake Of 3.03% - Filing
Thursday, 6 Jun 2019 

June 6 (Reuters) - Non-Standard Finance PLC ::COLTRANE ASSET MANAGEMENT DISCLOSES 4.01 PERCENT STAKE IN PROVIDENT FINANCIAL AS OF JUNE 5 VERSUS PRIOR STAKE OF 3.03 PERCENT - FILING.  Full Article

Woodford Investment Management Cuts Stake To 18.43% From 23.44% In Provident Financial - Filing
Thursday, 6 Jun 2019 

June 6 (Reuters) - Non-Standard Finance PLC ::WOODFORD INVESTMENT MANAGEMENT CUTS STAKE TO 18.43%FROM 23.44% IN PROVIDENT FINANCIAL PLC - FILING.  Full Article

Provident Says Lapse Of NSF Offer In Best Interest Of Its Shareholders
Wednesday, 5 Jun 2019 

June 5 (Reuters) - Provident Financial PLC ::LAPSE OF OFFER."BELIEVES THIS OUTCOME TO BE IN THE BEST INTERESTS OF PROVIDENT SHAREHOLDERS"."INTENDS TO CONTINUE ON ITS PATH OF DELIVERING STRATEGIC INITIATIVES ALREADY UNDERWAY".BOARD NOTES VIEWS OF ALL SHAREHOLDERS AS EXPRESSED DURING OFFER, LOOKS FORWARD TO FURTHER ENGAGING WITH THEM IN NEAR FUTURE.  Full Article

Non-Standard Finance Has Made Requisite CMA Filing In Relation To Its Offer For Provident
Wednesday, 29 May 2019 

May 29 (Reuters) - Non-Standard Finance PLC ::NON-STANDARD FIN PROVIDENT FIN.PLC. - UPDATE ON CMA PROCESS.NON-STANDARD FINANCE PLC - NSF HAS MADE REQUISITE CMA FILING IN RELATION TO ITS OFFER FOR PROVIDENT..NON-STANDARD FINANCE PLC - AS A RESULT, 40 WORKING DAY PERIOD FOR CMA'S PHASE 1 REVIEW PROCESS HAS COMMENCED ON WEDNESDAY.NON-STANDARD FINANCE - CONTINUES TO EXPECT AGREEMENT IN PRINCIPLE TO BE REACHED WITH CMA ON APPROPRIATE REMEDY FOR SLC DURING PHASE 1 REVIEW PROCESS.NSF - ACKNOWLEDGED TO CMA THERE IS PROSPECT OF SIGNIFICANT LESSENING OF COMPETITION IN RELATION TO HOME CREDIT.NSF - IDENTIFIED A CLEAR CUT REMEDY TO THAT SIGNIFICANT LESSENING OF COMPETITION BY WAY OF DIVESTMENT (THROUGH DEMERGER) OF LOANS AT HOME.NON-STANDARD FINANCE - CONTINUING ITS ENGAGEMENT WITH ALL PROVIDENT SHAREHOLDERS AS NSF WORKS TOWARDS SATISFYING REMAINING CONDITIONS TO OFFER.  Full Article

Lender NSF posts bigger loss as costs of failed M&A pile up

Lender Non-Standard Finance posted a massive first-half loss on Tuesday, partly due to costs related to its failed takeover attempt of larger rival Provident Financial , while a strong market demand led to a jump in adjusted earnings.