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Share Price: 125.00

Bid: 125.00

Ask: 126.50

Change: -0.50 (-0.40%)

Spread: 1.50 (1.20%)

Open: 128.00

High: 128.00

Low: 124.00

Prev. Close: 125.50

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International Personal Finance slides as Mexico growth falters

Wed, 04th May 2016 10:11

(ShareCast News) - Growth in customer numbers and lending slowed at International Personal Finance in the first quarter due to a slower performance in the key growth market of Mexico.Although there were strong performances from the home credit operations in Southern Europe and the IPF Digital business, a slowdown in Mexico saw group customer numbers increase year-on-year by 3%, down from the 6.6% rate enjoyed in 2015.Within this home credit customer numbers grew 1%, while IPF Digital surged 53%.First-quarter growth in proforma credit issued slowed to 6% from 13% last year, with home credit growth of 3% and Digital proforma growth of 31%.Credit issued in Southern Europe increased by 23%, fell 2% in Poland-Lithuania, fell 13% in Czech Republic, and grew only 4% in Mexico, where much had been expected after growing credit issued 76% in the last three years."The factors driving this are largely operational and we have a clear plan to address these and return to higher rates of growth as we move through the year," the company said.IPF Digital was driven by the new markets of Poland, Australia and Spain where year-on-year credit growth was 148%.The collections performance was said to be good, with impairment as a percentage of revenue at 26.1%, towards the lower end of the target range of 25% to 30%, from 25.7% last year.Collections in Mexico, however, were weaker than in the European businesses and as a result there was an increase in impairment which management expect to correct as the year progresses.The FTSE 250 home credit provider said it was continuing with the 'evolved' strategy announced in February, cutting costs in the established home credit businesses, including the roll out of our new sales and service structure in Poland and the completion of the UK head office restructuring, while focusing on driving top-line growth from the home credit businesses in IPF Digital, Mexico and Romania-Bulgaria.For the full year, directors said they "expect to generate further strong growth in IPF Digital, see a continuation of the positive momentum in Southern Europe and a return to higher levels of growth in Mexico".The situation in Poland was also being monitored, following the implementation of the new total cost of credit cap legislation, with IPF rolling out a new, compliant product offering.Following the group's recent well-publicised problems in Eastern Europe, analyst Gary Greenwood at Shore Capital said that a wobble in one of its growth markets "comes as a somewhat unwanted further development that is likely to impact negatively on the shares this morning".He said though it was a disappointing update he understood that "management remains comfortable with consensus statutory PBT of £92.8m, or £98.8m adjusting for Slovakia losses".Shares in IPF were down 7.6% to 241.2p by 1030 BST on Wednesday, still above February's three-and-a-half-year low below 220p.

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31 Aug 2018 17:46

DIRECTOR DEALINGS: International Personal Finance Non-Exec Buys Shares

LONDON (Alliance News) - International Personal Finance said Friday Non-Executive Director John Mangelaars purchased 25,000 shares at a price of 234.8 pence each.Wednesday's transaction

25 Jul 2018 13:57

Wednesday broker round-up

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25 Jul 2018 10:04

International Personal Finance Reports Rise In Interim Profit

LONDON (Alliance News) - International Personal Finance PLC said Wednesday that lower new business investments, gains from stronger exchange rates, and reduced losses in the digital division led a

15 Jun 2018 12:11

International Personal Finance Raises GBP39 Million Via Note Issue (ALLISS)

LONDON (Alliance News) - International Personal Finance PLC said Friday it raised GBP39 million through the issue of Swedish Krona denominated unsecured floating rate notes due 2022.The the

4 May 2018 10:50

International Personal Finance Reports 3% Growth In Lending

LONDON (Alliance News) - International Personal Finance PLC said Friday that strong top-line growth in the digital division and Mexican home credit business resulted in a 3% year-on-year growth in

27 Apr 2018 16:06

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UK Shareholder Meetings Calendar - Next 7 Days

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6 Jan 2017 08:33

UPDATE 1-IPF says to appeal against Polish tax body decision

(Adds context, shares) Jan 6 (Reuters) - Consumer credit lender International Personal Finance (IPF) said on Friday it would appeal against a decision by the Polish tax authority relating to the accounts of its Polish business, Provident Polska, for the 2008 financial year. The compan

6 Jan 2017 08:00

IPF says to appeal against Polish tax body decision

Jan 6 (Reuters) - Consumer credit lender International Personal Finance (IPF) said on Friday it would appeal against a decision by the Polish tax authority relating to the accounts of its Polish business, Provident Polska, for the 2008 financial year. The company said the decision involved

6 Jan 2017 07:53

International Personal Finance to appeal Poland tax authority decision

(ShareCast News) - International Personal Finance's Polish home credit company, Provident Polska, is to appeal the decision by the Polish Tax Chamber regarding a transfer pricing challenge related to an intra-group arrangement with a UK entity in 2008 and the timing of taxation of home collection fe

20 Oct 2016 16:05

LONDON MARKET CLOSE: Draghi Leaves Door Open To December QE Extension

20 Oct 2016 08:31

International Personal Finance reports good Q3 credit growth

(ShareCast News) - International Personal Finance posted a trading update for the third quarter on Thursday, with 9% growth in credit issued for the three months to 30 September. The FTSE 250 firm said that was driven by a return to growth in Mexico, a continued good performance in Southern Europe a

20 Oct 2016 07:38

BUZZ-International Personal Finance: Strong digital result boosts

** International Personal Finance's shares up 5.8 pct, top of the FTSE 250, after saying Q3 credit issue growth of 9 pct, digital growth of 44 pct ** Consumer credit lender expects continued growth and stable credit quality in Q4 ** Liberum analysts say digital business showing "stron

4 Oct 2016 16:04

FTSE 250 movers: Exporters exce but OneSavings tops the list

(ShareCast News) - Boosted by another plunge in the pound that is expected to prop up exporters, the FTSE 250 was 1.66% higher late on Tuesday. Exporting companies that were high in the leaderboard included European-focused lender International Personal Finance, equipment rental group Aggreko, which

21 Sep 2016 15:10

International Personal Finance CFO Gardner resigns

(ShareCast News) - International Personal Finance said on Wednesday that is chief financial officer, Adrian Gardner, has resigned "to pursue an alternative business opportunity". The company said a recruitment process has begun to appoint a new CFO. Head of finance Justin Lockwood will become CFO in

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