|
Provident Financial PLC - Bradford, England-based consumer finance company - Says it continued to trade in line with market expectations in the first quarter of 2022. Says Credit Card business experienced a recovery in customer spend patterns to 2019 levels. New customer bookings increased by roughly 25% year-on-year in the unit. Vehicle Finance business benefited from a ‘buoyant’ second-hand vehicle market during the period. Adds that Personal Loans arm saw open-market loan volumes ahead of expectations, leading to receivables ending the period being ‘slightly’ ahead of the year before. Remains on track to meet market expectations for 2022.
‘I am pleased to report that the group continued to trade in line with management's expectations during the first quarter of 2022. This performance reflects the work that we have carried out over the last two years to reposition Provident Financial towards the near-prime and mid-cost segment of the market,’ Chief Executive Malcolm Le May comments.
Current stock price: 240.00 pence
12-month change: down 8.5%
Copyright 2022 Alliance News Limited. All Rights Reserved.
|
