Just read an interesting article in a local magazine by Redmayne Bentley, tipping this one as a buy. Finals are due March 31st and the broker thinks things should be looking up.
Apparantly the company have been busy getting rid of their extra curricular arms and going back to concentrating on supplying finance. They have also reduced and levelled their cost base so that any growth goes straight on the bottom line.
Top and bottom of it is, Redmayne Bentley beleive this will grow rapidly over the next 12 months as it has finished its refocus and should have a fairly positive set of finals.
Anyone else got any views, or know any news?

Alan - common sense dictates that the credit boom cannot go on indefinitely. Relatively low interest rates and the resulting house price inflation has fuelled it so far, but the first cracks are appearing and as a medium/long term investor the secondary lending sector is not one I would personally go for at the moment. IMO there might be some short term success, but when the turn comes it could get nasty very quickly.Good luck with it!

Another pointer about the sector - Barclays reported today to be selling off its sub prime business within Barclaycard. HSBC already suffering in the USA. When credit becomes harder to find for the secondary quality borrowers and they cannot refinance, the problems may escalate.

Take your point, partridge, and I am not yet convinced this is anything more than an interesting side bet on the next finals, but...........
If I know anything, I know about the sub-prime lending market, and despite the warnings and actions of barclays etc., many other financial institutions are clammering to get a slice of the British sub prime market. Including Morgan Stanley with their new Advantage brand direct lending and Deutche Bank, so it is unlikely that lending will become more difficult to find. In truth the reverse is probably true as General Electric and General Motors are both trying their best to leverage their share of this market. The real problem comes with the delinquency rate of the lending book that can lead to a rerating of a lenders credit and therefore more expensive base line. I do not know PCF's position regarding this and that is what I will try and find out before commiting any serious money.
It was RB's recommendation after all...........not mine!!!!!
Alan

Alan - Your comments validated by apparent interest today in Kensington. Equally relevant is the point about the likelihood of credit downgradings for some secondary lenders as default rates rise on the back of rapid increases in bankruptcy and IVAs.For the brave perhaps, but me, I'm a coward.