Provident Financial wins customers, profits rise
27th Jul 2011 10:08
Shares in Provident Financial jumped after the doorstep lender lifted half year profits on the back of higher customer numbers. Pre-tax profits in the half year to 30 June climbed to £62.3m from £54m as customer numbers increased to 2.4m from 2.3m. Provident provides financial services for "peopl
Read moreWednesday tips round-up: Provident Financial, GKN, Fresnillo...
2nd Mar 2011 06:43
Long-term sceptics of doorstep lender Provident Financial say the big concern is Provident's capital position. The company again refused to give a figure for its surplus cash position - the concern being that it wouldn't be great news and could be as low as £20m rather than £50m or £60m that is ofte
Read moreProvident raises expectations too high
1st Mar 2011 16:55
Doorstep lender Provident Financial saw underlying profit grow faster than the rise in receivables as it chose its customers carefully and kept a tight rein on costs. Revenue in the year to 31 December rose 6.2% to £866.4m from £815.6m in 2009, while profit before tax and exceptional costs improved
Read moreBroker tips: Tesco, Provident Financial, Big Yellow
13th Jan 2011 13:15
Even though Tesco reported subdued sales in the UK, Nomura is pleased with the supermarket giant's international performance as it showed impressive growth. Like for like (LFL) sales in the UK for the six weeks to 8 January were up 0.6%, against expectations of flat to +2%. Tesco posted another str
Read moreBroker snap: Good funding news at Provident
13th Jan 2011 12:49
Panmure Gordon says that even though Provident Financial shares have had a good run as of late, recent funding news means that there is further to go in the near-term for the sub-prime lender. The group announced Thursday it had secured a 10-year facility of £100m from its M&G Investments UK Compan
Read moreProvident Financial beats estimates
13th Jan 2011 08:44
Sub-prime lender Provident Financial expects full-year results to come in "slightly" ahead of forecasts following a strong finish to 2010. The pick-up in home credit sales since September continued during the run up to Christmas, helping fourth quarter year-on-year sales grow 9%. Provident's colle
Read moreLondon close: US jobs data lifts sentiment
24th Nov 2010 16:44
Footsie put its early uncertainty behind it to close with good gains, helped by strong jobs figures from the US which cheered global markets following the jitteriness of the last couple of days. First-time jobless claims fell by a bigger than expected 34,000 to 407,000 in the week ended 20 November
Read moreLondon afternoon: Rolls celebrates another big order
24th Nov 2010 14:36
Barely a dozen or so FTSE 100 constituents are in the red today as the blue-chip index sets about clawing back some of the losses of the last two days, despite continued concerns about the Irish debt crisis and the military tensions in Korea. Better than expected jobs data from the US put investors
Read moreLondon close:Dull end to the week
22nd Oct 2010 16:24
London has closed lower as Wall Street failed to arouse much enthusiasm and miners fell back with a weak dollar. Talks about currency tensions at this weekend's G20 meeting in Korea are also making traders cautious. Lonmin, Eurasian Natural Resources Corp, Vedanta and Anglo American are lower. Tw
Read moreLondon afternoon: Gloomy mood continues
22nd Oct 2010 15:25
Blue chips are stuck in the red as Wall Street failed to arouse much enthusiasm and miners continue to wallow in negative territory as dollar strength trims commodity prices. US company earnings have been largely well-received, but talks about currency tensions at this weekend's G20 meeting in Kore
Read moreLondon midday: Shares sit lower as IPOs take centre stage
22nd Oct 2010 12:22
Shares are struggling to move into the blue on a sluggish day's trading, with IPOs hogging much of the limelight. AIA, the Asian arm of the American insurance giant AIG, is raising $20.5bn from the float, which it priced at HK$19.68, at the top of the indicated range. The price values AIA at $30.5b
Read moreLondon open: Blue chips lower as IPOs roll-out
22nd Oct 2010 08:46
London has opened lower, with attention distracted by the huge AIA float in Hong Kong and Betfair's listing in London. AIA is raising $20.5bn from the float, which it priced at HK$19.68, at the top of the indicated range. The price values AIA at $30.5bn - exactly matching the price Prudential event
Read moreProvident Financial not fazed by benefit cuts
22nd Oct 2010 07:40
Home credit group Provident Financial has played down the possible impact of the government's welfare and spending cuts even though its core customer base are low to middle income earners. "The phased introduction of the changes to welfare benefits does not increase the exposure to credit risk in H
Read moreDomino Printing's Herbert offloads shares
20th Sep 2010 17:33
Andrew Herbert, finance director of Domino Printing has taken advantage of a rise in the company's share price following a positive trading statement to sell a large chunk of shares in the provider of industrial ink jet and laser printing equipment. He pocketed nearly £260,000 from the sale of 49,1
Read moreWednesday tips round-up: Misys, Arm, Croda
28th Jul 2010 06:53
Reckitt Benckiser is looking for more bolt-on acquisitions in the health and personal care area - and SSL is an excellent purchase, although at £2.54bn it cannot be described as cheap. However, you have to pay for quality and SSL will fit well with Reckitt. The shares are trading on a December 201
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