7th Oct 2021 15:04
Morses Club PLC - Nottingham, England-based home collected credit provider and online lender - Reports "steady growth" in six months to August 28. Posts pretax profit of GBP1.8 million, more than double from GBP800,000 in the same period a year earlier. Revenue increases by 4.4% to GBP52.4 million from GBP50.2 million. Digital popularity continues growing, with 65% of all lending and 86% of payments now cashless. Net loan book of GBP60.3 million at end of first half, up 8.5% from GBP55.6 million year-on-year. Declares interim dividend of 1.0 pence, unchanged from last year.
"We expect demand for our digital products to continue to grow, albeit at a steadier pace than in the first half of the year," says Chief Executive Paul Smith. "There are significant opportunities to broaden our credit offering and attract high quality customers, and we are working towards meeting demand with a broadened digital product set."
Current stock price: 66.00 pence, down 7.8% on Thursday afternoon
Year-to-date change: up 34%
By Josie O'Brien; [email protected]
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