|Day's range||0.00 - 0.00|
|PE ratio (TTM)||12.49|
|Dividend & yield||1.64 (5.62%)|
|1y target est||1,312.68|
Provident Financial plc (LON:PFG) has in place a strong management team with proven leadership.
British subprime lender Provident Financial (Other OTC: FPLPF - news) reported a 22.6 percent drop in first-half pretax profit, hit by continued problems with its drive to switch from using self-employed agents to directly employed ones. The company, which provides credit to people who do not meet the loan criteria of mainstream banks, billed the reorganisation as a way to create a more efficient and effective home credit business. Chief Executive Peter Crook told Reuters on Tuesday he was confident of working through the shortage, and added the business had not seen any change at all in the underlying demand, usage or repayment of credit.
British subprime lender Provident Financial Plc (Other OTC: FPLPF - news) reported a 22.6 percent drop in first-half pretax profit as it continued to be hit by a reduction in the number of debt collection agents at its home credit division. The company, which provides credit to people who do not meet the lending criteria of mainstream banks, said pretax profit fell to 115.3 million pounds ($150.33 million)in the six months ended on June 30. "Whilst I remain disappointed by the higher than expected operational disruption to trading in the home credit business, the new business model was deployed as planned during the first week in July," said Provident Financial Chief Executive Peter Crook.