Non-Standard Finance (NSF)

Sector:

Financials

38.50p
   
  • Change Today:
      0.80p
  • 52 Week High: 105.97
  • 52 Week Low: 37.70
  • Currency: UK Pounds
  • Shares Issued: 312.05m
  • Volume: 104,038
  • Market Cap: £120.14m
  • RiskGrade: 6

Non-Standard Finance losses widen after failed Provident Financial bid

By Michele Maatouk

Date: Tuesday 20 Aug 2019

LONDON (ShareCast) - (Sharecast News) - Lender Non-Standard Finance reported a widening of its pre-tax losses on Tuesday as it was hit by costs associated with a failed £1.3bn bid for larger rival Provident Financial.
In the half year to 30 June, pre-tax losses widened to £22.8m from £2.6m in the same period a year ago as the group took an exceptional charge of £25.3m. This includes fees and costs associated with the Provident offer of £12.7m, and a £12.5m writedown on the value of its Loans at Home business.

Normalised revenue rose 12% during the half to £88.3m, reflecting "strong" growth in both branch-based lending and guarantor loans, which the company said more than offset a small drop in home credit.

The total loan book grew 26% to £335.6m as guarantor loans rose 53%, and NSF lifted its dividend by 17% to 0.7p a share.

NSF said that since the end of June, it has continued to experience strong loan book growth in branch-based lending and guarantor loans, while demand in the more mature home credit market remains steady.

Chief executive John van Kuffeler said: "Whilst we believe strongly that a combination with Provident Financial would have accelerated the delivery of benefits for customers, employees and shareholders, each of our businesses continued to perform well during the first half. Our strategy remains unchanged and we remain on course to deliver attractive long-term returns through a combination of income and capital growth.

"As well as fees and other deal-related costs, exceptional items in the first half also include an impairment charge for Loans at Home goodwill. Whilst Loans at Home is highly profitable, is performing strongly and is ahead of plan, the significant decline in the peer group multiples since December 2018 has prompted the impairment of the goodwill asset in the group's balance sheet. We are continuing to see a strong level of demand in both branch-based lending and guarantor loans while in the more mature home credit market, demand remains steady."

At 0950 BST, the shares were up 0.3% at 33.70p.

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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.

 

NSF Market Data

Currency UK Pounds
Share Price 38.50p
Change Today 0.80p
% Change 2.12 %
52 Week High 105.97
52 Week Low 37.70
Volume 104,038
Shares Issued 312.05m
Market Cap £120.14m
RiskGrade 6

NSF Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
92.26% above the market average92.26% above the market average92.26% above the market average92.26% above the market average92.26% above the market average
97.18% above the sector average97.18% above the sector average97.18% above the sector average97.18% above the sector average97.18% above the sector average
Price Trend
75.36% below the market average75.36% below the market average75.36% below the market average75.36% below the market average75.36% below the market average
78.67% below the sector average78.67% below the sector average78.67% below the sector average78.67% below the sector average78.67% below the sector average
Income
75.22% above the market average75.22% above the market average75.22% above the market average75.22% above the market average75.22% above the market average
81.18% above the sector average81.18% above the sector average81.18% above the sector average81.18% above the sector average81.18% above the sector average
Growth
58.57% above the market average58.57% above the market average58.57% above the market average58.57% above the market average58.57% above the market average
60.98% above the sector average60.98% above the sector average60.98% above the sector average60.98% above the sector average60.98% above the sector average

What The Brokers Say

Strong Buy 2
Buy 0
Neutral 0
Sell 1
Strong Sell 0
Total 3
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

NSF Dividends

  Latest Previous
  Interim Final
Ex-Div 19-Sep-19 23-May-19
Paid 17-Oct-19 07-Jun-19
Amount 0.70p 2.00p

Trades for 17-Oct-2019

Time Volume / Share Price
16:13 80 @ 38.45p
15:49 5 @ 38.45p
15:04 10,000 @ 38.05p
15:04 4,085 @ 38.40p
15:03 10,000 @ 38.05p

NSF Key Personnel

CEO John van Kuffeler
CFO Nick Teunon

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