Amigo Holdings (AMGO)

Sector:

Financials

Index:

FTSE Fledgling

7.70p
   
  • Change Today:
    -0.32p
  • 52 Week High: 29.50p
  • 52 Week Low: 5.80p
  • Currency: UK Pounds
  • Shares Issued: 475.33m
  • Volume: 6,291,008
  • Market Cap: £36.60m
  • RiskGrade: 543
  • Beta: 1.06

Amigo Holdings swings to loss as revenues slide

By Michele Maatouk

Date: Thursday 26 Nov 2020

LONDON (ShareCast) - (Sharecast News) - Amigo Holdings said on Thursday that it swung to a pre-tax loss in the first half as revenues slid and the subprime lender expressed doubt about its ability to continue as a going concern.
In the six months to the end of September, the company swung to a pre-tax loss of £62.6m from a profit of £42.3m in the same period a year ago. Revenue fell 36.5% to £92.3m as customer numbers dropped 21% to 176,000.

The revenue decline was attributed to the fact that Amigo paused all new lending in March after the coronavirus outbreak, except to key workers. It also took a hit from Covid-related payment holidays, which were granted to around 56,000 customers as at 30 September. As at end of October, this was 57,000, with 22,000 plans still active.

Amigo's net loan book declined by 33.6% in the half to £485.2m.

Earlier this month, Amigo said it had had to increase its provision for customer complaints over mis-selling and that it wouldn't resume lending until 2021.

This came after the Financial Conduct Authority found that it had failed to properly evaluate whether customers were able to afford their loans and subsequently banned Amigo from paying dividends to directors and ordered it to deal with all compensation claims by the end of October.

"The board considers that it has adequate liquidity to continue to fund operations and support its customers," the company said on Thursday. "There is, however, a material uncertainty surrounding going concern due to the potential economic impact of Covid-19, uncertainty over future complaint volumes and the possible outcome of the ongoing FCA investigation."

At 0835 GMT, the shares were down 4.9% at 8.73p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Amigo Holdings Market Data

Currency UK Pounds
Share Price 7.70p
Change Today -0.32p
% Change -3.93 %
52 Week High 29.50p
52 Week Low 5.80p
Volume 6,291,008
Shares Issued 475.33m
Market Cap £36.60m
Beta 1.06
RiskGrade 543

Amigo Holdings Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
22.89% below the market average22.89% below the market average22.89% below the market average22.89% below the market average22.89% below the market average
25.58% below the sector average25.58% below the sector average25.58% below the sector average25.58% below the sector average25.58% below the sector average
Price Trend
84.82% below the market average84.82% below the market average84.82% below the market average84.82% below the market average84.82% below the market average
85.51% below the sector average85.51% below the sector average85.51% below the sector average85.51% below the sector average85.51% below the sector average
Income Not Available
Growth
43.27% below the market average43.27% below the market average43.27% below the market average43.27% below the market average43.27% below the market average
53.33% below the sector average53.33% below the sector average53.33% below the sector average53.33% below the sector average53.33% below the sector average

Amigo Holdings Dividends

  Latest Previous
  Interim Final
Ex-Div 09-Jan-20 18-Jul-19
Paid 29-Jan-20 31-Jul-19
Amount 3.10p 7.45p

Trades for 03-Dec-2021

Time Volume / Share Price
16:35 775 @ 7.70p
16:28 66,503 @ 7.66p
16:27 136,000 @ 7.46p
16:25 25,000 @ 7.68p
16:23 26,000 @ 7.47p

Amigo Holdings Key Personnel

CEO Gary Jennison
CFO Michael Corcoran

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