Vanquis Banking Group 20 (VANQ)

Sector:

Financials

Index:

FTSE Small Cap

52.70p
   
  • Change Today:
    -3.10p
  • 52 Week High: 240.00
  • 52 Week Low: 46.20
  • Currency: UK Pounds
  • Shares Issued: 256.48m
  • Volume: 3,404,676
  • Market Cap: £135.17m

Provident Financial swings to interim profit

By Michele Maatouk

Date: Wednesday 27 Jul 2022

LONDON (ShareCast) - (Sharecast News) - Subprime lender Provident Financial said on Wednesday that it swung to an interim profit following the wind down of its consumer credit division (CCD).
In the six months to 30 June, the company swung to a statutory pre-tax profit of £37.3m from a loss of £44.2m in the same period a year earlier. Provident said this includes £3.7m of exceptional costs related to corporate costs incurred centrally and £9.6m of discontinued items related to the wind-down of the CCD.

The company's credit card business reported a pre-tax profit of £75.8m, up from £57m a year earlier, driven by receivables growth and active customer spend levels being maintained year-on-year.

Meanwhile, the vehicle finance business delivered a pre-tax profit of £20.2m, up from £15.5m. Provident said this was driven by higher revenue year-on-year, as a result of the growth in the average receivables book, and lower interest and impairment costs.

Following the wind-down of the CCD, Provident now focuses exclusively on the mid-cost and near-prime segments of the credit market.

"This is expected to have a positive impact on the impairment and cost profile of the group," it said. "Combined with its strong balance sheet, this is expected to enable the group to deliver focussed and sustainable growth whilst also delivering attractive returns to shareholders."

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VANQ Market Data

Currency UK Pounds
Share Price 52.70p
Change Today -3.10p
% Change -5.56 %
52 Week High 240.00
52 Week Low 46.20
Volume 3,404,676
Shares Issued 256.48m
Market Cap £135.17m

VANQ Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
89.12% above the market average89.12% above the market average89.12% above the market average89.12% above the market average89.12% above the market average
80.95% above the sector average80.95% above the sector average80.95% above the sector average80.95% above the sector average80.95% above the sector average
Price Trend
93.03% below the market average93.03% below the market average93.03% below the market average93.03% below the market average93.03% below the market average
96.55% below the sector average96.55% below the sector average96.55% below the sector average96.55% below the sector average96.55% below the sector average
Income
49.75% above the market average49.75% above the market average49.75% above the market average49.75% above the market average49.75% above the market average
21.21% above the sector average21.21% above the sector average21.21% above the sector average21.21% above the sector average21.21% above the sector average
Growth
84.54% below the market average84.54% below the market average84.54% below the market average84.54% below the market average84.54% below the market average
71.96% below the sector average71.96% below the sector average71.96% below the sector average71.96% below the sector average71.96% below the sector average

VANQ Dividends

  Latest Previous
  Final Interim
Ex-Div 18-Apr-24 10-Aug-23
Paid 30-May-24 21-Sep-23
Amount 1.00p 5.00p

Trades for 28-Mar-2024

Time Volume / Share Price
18:06 31,008 @ 53.32p
18:06 313,529 @ 53.32p
16:35 582,223 @ 52.70p
16:35 9,956 @ 52.70p
16:35 9,691 @ 52.70p

VANQ Key Personnel

CEO Ian McLaughlin
Chair Sir Peter Estlin
CFO Dave Watts

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