Listen to our latest Investing Matters Podcast episode 'Uncovering opportunities with investment trusts' with The AIC's Richard Stone here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Started: mb6416, 11 Jun 2024 09:17
Last post: KrispyDuck, 11 Jun 2024 13:15
Pricing of IPF does seem "off" today. Did a dummy sell of 25k (AJ Bell) with an indicative spread showing of 126/128 but the quote given was only 124.7. Still ... better than it was a week ago :)
Or pay for updated data on here
This site is 15 minutes behind try looking at a site that shows current prices...I use Investing.com
My broker (ii) say that ipf is currently at 125.5p, yet this site still has it at 122p ?, obviously something wrong here.
Started: Heroric, 20 May 2024 14:22
Last post: AndyCompanyZ, 10 Jun 2024 12:41
...Receptive to business.
Maybe it's the EU government elections and in particular Poland where Donald Tusks party took 7 more seats in the EU parliament which could help IPF as they are a Centre Right party and probably more rdceptive
Is the share price moving up on expected EU interest rate cuts, with others soon to follow perhaps? Abd why did a director sell over £100K’s worth the other week? He could’ve made an additional £15K if he’d held off!
Ive added with a slice from elsewhere, as long as the ~10% dividend continues it makes a great savings account
Agreed very strange, continued to make gains today.
Positive movement north should continue.
Started: AndyCompanyZ, 10 Jun 2024 12:22
Last post: AndyCompanyZ, 10 Jun 2024 12:22
Does anyone know a reason for the very nice uplift in the SP today?
Started: RoseGrower, 5 May 2024 15:11
Last post: NAVYRRET, 6 May 2024 16:39
Pottery's not for me.
I’m not a Chartist RG - is this good news or bad?!? What share price is the charts indicating?
Inverted Cup and Handle forming ?
Started: Heroric, 23 Apr 2024 12:12
Last post: AndyCompanyZ, 24 Apr 2024 08:30
I've been in and out of ipf for a few years now it's a great share to trade in as it dips and rises all the time. I've been 50% under with it before but it's always come back into profit for me and then I sell and wait again for a dip. I don't care about the business so have no qualms about pure profit taking.
With a great divi and outlook very impatient to see the re rate here! Current low sp does not make much sense to me for divi reasons alone - a hidden gem!
Well I use Stockopedia where they quote broker consensus forecasts. The figures for the next 2 years, from Stockopedia, taken after their mid March results are stated in my comment 21st March. These figures look great and I assume (and hope) that they have the Polish numbers factored in but I can’t be 100% sure.
Not new, its from the results announcement it mentioned approx 10 mill
Craig, are you referring to the comment mentioned in recent report (14th March) by Polish Authority is this a new announcement?
What’s everyone’s thoughts on the new regulations in Poland expected to reduce 10million from profit.
Hopefully we can make it back in other areas?!
Started: Standanddeliver, 15 Mar 2024 16:53
Last post: Beza, 7 Apr 2024 13:12
Hopefully IPF share price will increase early this week on the run up to Thursday’s ex date.
Strong results from other finance related stocks (MFX and CMCX ) makes me think that the smaller financials are due a re rate -,companies posting great results on lowly PER’s can’t continue for ever. Value ‘outs’ as they say.
Fantastic new broker forecast figures here after the latest results. 20p eps for next year followed by 25p eps and 12.1p divi for the year after. That’s a PER under 5 and a prospective divi of 10.7%. Let’s hope this stays on track.
The Vanquis Jaguar compared to the IPF Mini. The Jaguar looks better than the Mini but you can't just go on looks.
Lets see what's under the bonnets. I am impressed, the Mini has a cooper S engine, and that's a plus I wasn't expecting. Now for the Jaguar, OMG it only has a 1300cc engine, no wonder it has hardly moved in the last three years. There's a brick behind the back wheel as the handbrake isn't working properly and it keeps rolling backwards. The owners tell me they have made lots of improvement but I just can't see where. Shame they didn't fix the handbrake. The performance is poor due to the engine cc size. Looks are deceptive, you need to delve deeper when buying into something. CC stands for customer count and their inability to increase it. Until they make the cc bigger, this Jaguar isn't going anywhere. So lets take a look at how positive they are about increasing the size of the cc. Look at their Annual Report and what Tracy the ICU nurse had to say, there's the answer. Signing up the spouse or partner to become another customer. the deceptive way to increase the cc. If anything changes in that household you double the problem with reduced or non payments. Also, part of the cc isn't working as these are credit card holders who don't use them. Vanquis you need new door customers, adding a twin carb is not the answer. Now lets look at the Mini cooper S. Strong cc and increasing. It can drive anywhere, unlike the Jaguar. It has driven into a new area of Mexico where the potential of increasing the cc is immense. This car is nippy and going places.
Investors don't be fooled by the look of the Jaguar, it might look attractive but it's the cc size of the engine that counts.
Started: grippa, 14 Mar 2024 22:35
Last post: Beza, 15 Mar 2024 13:11
Broker forecast eps for next year is £0.24. With a divi of 11p cover 1.85 times by earnings it’s yielding 9.82%.
What’s not to like?
The markets are obvieously non believeres here looking at various figures why are they non believer's anyone else know?
Glad to have ignored the pump for Vanquis. I said I’d leave well alone and it’s slumped 60% since. Phew.
Little sign of that 150. resistance seems to be around 120. maybe a rise towards ex-div date?
I'm not interested in Vanquis, especially as the divi is forecast to be cut back to 1p next year. Leaving well alone!!
Interesting to compare the forecasts for Vanquis and IPF on Market Screener
They both look very undervalued
hxxps://www.marketscreener.com/quote/stock/INTERNATIONAL-PERSONAL-FI-4007183/finances/
It shows forecast eps for IPF of 18p in 2023, 21p in 2024, 28p in 2025
And forecast dividend of 10p, 11p, and 12p in 2025
The forecast eps for Vanquis is 42p in 2025
And the forecast dividend for Vanquis is 18p in 2025
hxxps://www.marketscreener.com/quote/stock/VANQUIS-BANKING-GROUP-PLC-9590111/finances/
So with the Vanquis share price now lower than IPF, Vanquis seems to offer a far better investment with a forecast PE of 2.5 in 2025, and a forecast dividend of nearly 17% in 2025
The forecast PE for IPF is over 4 in 2025, and a forecast dividend of 10% in 2025
So they both look like that they may be good investments, but Vanquis looks much better value than IPF now
Tree shake today and I'm stopped out. Getting sick of this market.
Started: Standanddeliver, 4 Mar 2024 15:53
Last post: divermitch, 4 Mar 2024 19:37
In order for you to buy someone had to sell. The price you paid for it was nearer a sellers asking price than a buyers asking price, therefore its logged as a sell.
How is it possible to purchase shares and recorded as a sell?
Today at 11.50 I purchased 5000 shares and yet it 's recorded that I sold them. How is that possible when it's all computerised. Must be using the same computers that the Post Office use. Dodgy or what.
Started: Standanddeliver, 25 Feb 2024 13:26
Last post: Standanddeliver, 25 Feb 2024 13:26
My old user name was TheProviVan.
I haven't put a post on here for some time, so I think it's time to update things. On 16th May 2023 I posted the comparison between IPF/Vanquis and that post was proven to be spot on. I don't consider that situation has changed much. PFG changed their name to Vanquis Bank and that doesn't mean their business is now in banking. They're still predominately a finance business. I have said many times that Vanquis has a problem with their credit card business and that still stands today. Vanquis card is the bread and butter bulk of their business and they are finding it difficult to grow. In fact the customer growth has been reducing over a few years now. They can say how many new customers they have put on but how many of those new customers actually use the card and each year the dead wood customers are growing. In other words the customer base taking off the dead wood has been decreasing year on year.
IPF is in a totally different situation and has a much greater potential to grow. Whereas Vanquis has been detracting IPF is expanding. The main areas that IPF needs to concentrate on is arrears, by keeping it under control and also grow the customer base in Mexico to exceed any customer loss in Poland. If they get the balance right, I cannot see any reason why IPF will not out perform Vanquis. Profit is one thing but without customer growth any business will gradually decline. I hope Vanquis can succeed in growing the business to an acceptable level but it's going to take at least two years IMO.
Started: AndyCompanyZ, 1 Aug 2023 12:48
Last post: AndyCompanyZ, 1 Aug 2023 12:48
Another good RNS today and as I have said all along this share keeps giving. I was prepared to sell today if the figures hadn't been favourable but now I'll stick around at least until the dividend.
Last post: Tall_Investor, 14 Jun 2023 10:25
Unlike ordinary shares, you pay the accrued interest when you buy bonds. There is therefore no benefit to buying shortly before the interest is due. In fact, there is a slight disadvantage because there is always a very small risk that the interest will not be paid for some reason. In the case of a maturing bond like IPF2, there may be beneficial terms to existing bondholders depending on how they choose to refinance.
I hold IPF2 and IPF3 and believe the risk/reward is attractive compared to alternatives, including IPF shares. Just my opinion.
Agree that cost of borrowing likely to increase. These bonds always looked quite attractive to me. General knowledge question actually, can you buy in towards the end of the period (the bond coming up to maturity) and still get the pay out?
Any views on the IPF2 bond that redeems at the end of this tear. Refinancing that looks tricky, ceryainly wont be at the existing 7.5% and the smaller one last year was at 12%…
Started: AndyCompanyZ, 16 May 2023 10:15
Last post: TheProviVan, 17 May 2023 18:56
To me, that is for sure. If they're sensible in their lending and keep the arrears under control. the growth potential in this company is vast. IMO the CEO is excellent and he has a good team behind him. If they get the balance right in Mexico , they can then expand into another country and do the identical thing all over again. The big plus with this company is, they don't have to worry about the destructible FCA.
Thanks I didn't know any of that. I think we're invested in the right side of the split
Provident Financial Group (PFG) just recently changed their name to Vanquis Bank. PFG expanded into Poland (Provident Polska) and then the company was split and IPF was born. That's why IPF in Poland is still called Provident.
I don't know Vanquis bank but i do know a lot of used car salesmen like a jag
I'm going to compare IPF to Vanquis Bank and see why investors prefer Vanquis rather than IPF. I'm using two second hand cars that are on the market as an example.
The Vanquis Jaguar compared to the IPF Mini. The Jaguar looks better than the Mini but you can't just go on looks.
Lets see what's under the bonnets. I am impressed, the Mini has a cooper S engine, and that's a plus I wasn't expecting. Now for the Jaguar, OMG it only has a 1300cc engine, no wonder it has hardly moved in the last three years. There's a brick behind the back wheel as the handbrake isn't working properly and it keeps rolling backwards. The owners tell me they have made lots of improvement but I just can't see where. Shame they didn't fix the handbrake. The performance is poor due to the engine cc size. Looks are deceptive, you need to delve deeper when buying into something. CC stands for customer count and their inability to increase it. Until they make the cc bigger, this Jaguar isn't going anywhere. So lets take a look at how positive they are about increasing the size of the cc. Look at their Annual Report and what Tracy the ICU nurse had to say, there's the answer. Signing up the spouse or partner to become another customer. the deceptive way to increase the cc. If anything changes in that household you double the problem with reduced or non payments. Also, part of the cc isn't working as these are credit card holders who don't use them. Vanquis you need new door customers, adding a twin carb is not the answer. Now lets look at the Mini cooper S. Strong cc and increasing. It can drive anywhere, unlike the Jaguar. It has driven into a new area of Mexico where the potential of increasing the cc is immense. This car is nippy and going places.
Investors don't be fooled by the look of the Jaguar, it might look attractive but it's the cc size of the engine that counts.
Started: TheProviVan, 9 May 2023 16:21
Last post: TheProviVan, 9 May 2023 16:21
International Personal Finance plc ("IPF" or the "Group") is pleased to announce that it will host a webinar for investors and analysts featuring the Group's IPF Digital business on Wednesday 10 May at 14:00 BST (0900hrs ET / 1600hrs EET).
The briefing will be broadcast live from Tallinn in Estonia and hosted by CEO, Gerard Ryan and IPF Digital's General Manager, Povilas Girčys. Investors and analysts will have the opportunity to learn more about this profitable and highly scalable business which is meeting the needs of a growing number of underserved consumers who want affordable credit online and seamless interactions with their digital financial provider. The presentation will cover details of the customers served, key market trends, credit decisioning technology and how IPF Digital is successfully executing its growth strategy to realise future growth and returns.
No new financial information will be disclosed. The briefing, including a live Q&A, will last around 60 minutes and is open to investors and analysts. To register for the webinar, please contact rachel.moran@ipfin.co.uk
A recording of the event and presentation materials will be available on the Group's website shortly after the event at www.ipfin.co.uk
Started: TheProviVan, 18 Apr 2023 22:52
Last post: lancebombadier, 3 May 2023 09:32
The spread puts me off
Enough is enough. When I saw the spread price this morning bid 92.20p and buy 99.80, a difference of 7.60p on an excellent Q1 trading update, it made no sense at all. The mms are now taking the p. Luckily the first two trades were buys but if they had been sells, God knows what the share price would have gone down to. The lunatics are running the asylum.
And another decent dividend announced in their AGM
Excellent, well played IPF
This remains one of the most unloved, and undervalued, companies on the FTSE
P/E of 4 for a highly profitable, growing, high yielding company is, quite frankly, bonkers
Q1 2023 Trading Update
Apr 27, 2023 / 12:00 AM UK time
Started: AndyCompanyZ, 1 Mar 2023 09:49
Last post: Ubik_Fresh, 22 Mar 2023 14:55
Might buy a chunk before this goes ex-divi, better yield than BATS which was touted as a good 'safe' share for these trying times.
Just checked £100.50.
No money for a while otherwise I might have bought more.
Profit increase looks quite impressive. I afraid I haven't bought as the 12% 2027 bonds were just to tasty.
May still be possible to get them close to par due to the market volatility.
How this is blue today, I don't know. Impressive.
I've held and sold ipf for a few years now and as I've said before on here it always comes through in the end. This one took a big longer than normal but after being down for the last year I'm back in profit with it as I knew it would. Happy vindicated days.
Started: TTNY2013, 28 Feb 2023 17:47
Last post: Ubik_Fresh, 1 Mar 2023 09:05
That's a pretty damn solid divi now.
Excellent results
15% increase in dividend
Full year results tomorrow.
Be interesting to see numbers together with forward looking statement and divi.
Last post: TheProviVan, 3 Feb 2023 22:08
I've been studying these share trades now for over two months and IMO the spread prices are the reason for the movement on these shares being contained within a defined range. Last night at the end of trading (4.30) the books were not balanced (UT), Why? This morning stats showed a spread of 7.70p and at 11.19 it went down to 0.90p , why such a huge difference? If you look at the first 8 trades today, 7 were buys and one single share sold and the share price went up less than 1p. After that the large spread price kicked in, hence the yoyo graph movement. At 10.01 the shares were £1 and then at 10.02 a single share sell made the price 94.30p. That 5.70p difference killed off the buyers. Nobody was going to buy at £1 knowing the price could drop within minutes by 5.70p a share. It wasn't until 12.32 that buyers came back when the spread went to 1.20p. I'm of the same opinion as other posts on here, that nothing seems to add up. Are these share being constrained for some unknown reason?
I think it is just the market makers moving the. price. to attract. some buy or. sell trades - by which he profits, of. course
Finally a bit of traction...I've held and sold and held and sold this share for a few years now and it always comes through in the end...not sure why it's moving now but it does move in mysterious ways
This share is just odd. It moves within a pretty defined range, and I find the upticks only come on solid good news / annual results.
Yes no reason it seems for this drop against a strong general market
Started: TTNY2013, 9 Jan 2023 07:36
Last post: TTNY2013, 9 Jan 2023 07:36
International Personal Finance Plc Notice of investor briefing - 18 January 2023
Source: UK Regulatory (RNS & others)
TIDMIPF
RNS Number : 9947L
International Personal Finance Plc
09 January 2023
International Personal Finance plc
Notice of investor briefing on Wednesday 18 January 2023
International Personal Finance plc ("IPF" or the "Group") is pleased to announce that it will host the second investor briefing in its series of webinars providing insight into the Group's markets, strategy and operations.
The briefing featuring IPF's Mexico home credit business will be broadcast live from Puebla in Mexico at 15:00 GMT on Wednesday 18 January 2023, and hosted by the Group's CEO, Gerard Ryan and Country Manager, David Parkinson. The event will provide an opportunity for analysts and investors to learn about the home credit business' unique market position, the customers it serves and strong growth potential. No new financial information will be disclosed. The briefing, including a live Q&A, will last around 60 minutes and is open to
investors and analysts . To register for the webinar, please contact rachel.moran@ipfin.co.uk
A recording of the event and presentation materials will be available on the Group's website shortly after the
event at www.ipfin.co.uk
Last post: kentio, 19 Dec 2022 10:17
I think it is. general market apathy. Most of the. smaller stocks are. in the. same boat despite. she being brilliant. companies. . Remember the old. saying "no news is. good news"
I'm holding on to the hope its a)
Well I appreciate that today was a sh*te day on the market in general but nearly 10% down on zero news (as far as PI’s are aware). The forecast divi for 2023 is 9p so this now on a foreward divi yield of 14%. It’s either a) dirt cheap or b) someone’s got wind of something…
Unbik, you’re quite right! I don’t know why but I thought that the those also had a presence abroad.
Don't Morses Club and NSF operate in a completely different geographical market, i.e. the UK, where as IPF are based in Eastern Europe, Mexico and Aus. Hence I don't see them as competitors.
Last post: appleby, 24 Nov 2022 16:19
I also own the existing bonds , never been a problem , will convert to 12% issue . only paid about 60p each if i remember puts my yield at 20%ish cant really do better than that . Will also buy more at 12%.
GLA
Thanks very much Sotoman - I'm planning on holding to maturity so am happy to hear from someone who's both held up until now from the last release of bonds and who is planning on extending holding. From the data, it looks like all bi-yearly coupon payments have been made in a timely fashion etc. which is great.
I hold the 2023, 7.75% bonds that i picked up in 2020 for 56p so they've served me very well since then. funnily enough, my broker has just written to say that they are offering an exchange for a new 12%, 2027 bond which i have agreed to. I also hold shares in IPF and also believe right now they are under valued.
Morning all,
I know this is the forum for its shares, but curious if anyone has previously invested in IPF bonds offering? I came across the 5 year offer on Primary Bid last week so have started looking at company fundamentals, credit ratings etc. Was just wondering if anyone has previously bought IPF bonds and if so, what their experience has been?
Any feedback very welcome.
All the best.
Started: TTNY2013, 2 Aug 2022 18:36
Last post: Beza, 22 Nov 2022 19:04
Hmm, in the short time since my last post the forecast eps has been reduced to 14.9p / share. Perhaps that explains the recent weakness in the share price.
Forecast eps is 17p per share with the divi covered 1.87 times. How does the market justify this valuation?
How is this down today with the US inflation news. Odd.
Yes, I need a new screen on my phone! It’s very annoying!
Is the 'full stop' button jammed on your keyboard?
Started: Ubik_Fresh, 25 Jul 2022 10:54
Last post: Ubik_Fresh, 29 Jul 2022 16:30
Hey, hey... i'm about to break even. CRAZY TIMES.
GLA
Clearly the market like these results. Faring a lot better than PFG, which I'm about to give up on.
... and impatient. Profits left in .. time to move on.
GLA.
Wow that was sell off down to 76p ... back to being patient :(
"Don't expect immediate results."
Fair point .... I recollect a few years ago, probably 2017 flipping a coin on IPF versus NAH ... both with very high dividends at the time ... I closed IPF .... position ...
.. I lost in settling for NAH.
;)
Started: Ubik_Fresh, 7 Apr 2022 15:10
Last post: Beza, 16 Jun 2022 20:21
Another director / associate of makes a share purchase. That’ll explain the price movement here today.
Thanks for the clarification Andy. Yes, I haven't really made much on the SP bar the dividend. My cash could probabaly be working harder elsewhere. I should probably sell my main holding when this next gets north of £1.40. But, this is a fun little experiment to see if I can trade the swings a bit. IPF remained surprisingly robust during the pandemic and the last trading update was very positive all things considered.
If anything, with high inflation and rising commodity prices their business is likely to boom.
I don't think if you've had them for 12 years, and kept them, you'll have made much on the SP...a few dividends along the way though. As you see today it is very volatile and that's what I play. The shares were, according to the RNS Grant of shares under The IPF Performance Share Plan ("PSP") so yes he didn't buy them...not that that's a negative thing particularly...in fact to me it seems positive that the share is performing well...but that's just my take on it.
The CFO was given shares under share incentive plan
However their partner did buy 50000 shares a few days back so that’s a good sign
Thanks Andy. I actually inherited some IPF shares about 12 years ago. I've been watching the markets more carefully for the last 4 years and feel like I have a good appreciation of how this share behaves now (as much as you can). It just looked like a screaming buy to me.
Not sure I understand the comment from hxulcolrdoh about the CFO not buying shares on the 6th as it was in a news bulletin as a 'BUY', am I mis-reading this?