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Provident Financial trading statement

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77ss
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Provident Financial trading statement

#23684

Postby 77ss » January 17th, 2017, 9:52 am

http://www.investegate.co.uk/provident- ... 00072980U/

The group expects to report results for 2016 in line with market expectations

As usual, the company also hepfully tells us what those expectations are:

Market expectations in this announcement represent a consensus 2016 group profit before tax, amortisation of acquisition intangibles and exceptional items of £333.9m

This represents an increase on the £292.9 reported for 2015. Not as great as in previous years, but still a healthy 14%.

Finals to be released on the 28th Feb.

kempiejon
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Re: Provident Financial trading statement

#23696

Postby kempiejon » January 17th, 2017, 10:28 am

Thank you, it's handy having posts to remind me of shares I hold when they're reporting. PFG was one of my early purchases and I have been buying more this past 1o months or so, This years buy were above today's price but it's the ever rising dividend that keeps me in Fino and they have a very strong, long record, going back at least since 2000 and over that period averages are consistent and two digit.
15 yrs 10 yrs 5 yrs
10.40% 13.22% 13.88%
numbers from dividenddata.co.uk.

pendas
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Re: Provident Financial trading statement

#23721

Postby pendas » January 17th, 2017, 11:54 am

They've also done well on the capital front for those interested in such things. I first purchased in 2006 at an adjusted price of £5.52 and sold in 2013 at £16.21, harvesting the gain from an unsheltered account. Repurchased in ISAs at £16.08 and £16.16, the price is now around £28.59.

A shame the original investment was only £4k and I didn't fill my boots. Now at over 1.5 x median weight, they are well down the list for a top up.

(The price adjustment was for a share split when an overseas venture was hived off.)

piccadilly
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Re: Provident Financial trading statement

#23841

Postby piccadilly » January 17th, 2017, 5:14 pm

Still further to go on this share - yield is over 4.2% - and dividends have grown strongly over the years.

idpickering
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Re: Provident Financial trading statement

#24010

Postby idpickering » January 18th, 2017, 6:45 am

piccadilly wrote:Still further to go on this share - yield is over 4.2% - and dividends have grown strongly over the years.


It is my intention to add to my PFG holdings over the coming months. They form 4% of my 24 share HYP as of now.

Ian.

77ss
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Re: Provident Financial trading statement

#24260

Postby 77ss » January 18th, 2017, 9:11 pm

idpickering wrote:It is my intention to add to my PFG holdings over the coming months. They form 4% of my 24 share HYP as of now.

Ian.


My second oldest surviving HYP purchase (after SSE), dating back to March 2003. It now forms 4.8 % of my 34 share portfolio and provides 4.8% of my dividend income.

A bit overweight, but I shan't be top-slicing any time soon - a lucky purchase! Share price can be a bit volatile, but that just offers tinkering opportunities :-)

For those interested, in today's Telegraph, Questor has said 'buy'.

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Re: Provident Financial trading statement

#24278

Postby monabri » January 18th, 2017, 10:16 pm

Any thoughts on the gearing - it was over 200% .

77ss
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Re: Provident Financial trading statement

#24329

Postby 77ss » January 19th, 2017, 7:50 am

monabri wrote:Any thoughts on the gearing - it was over 200% .


There doesn't seem to be any serious cause for concern. Those wiser than I may differ.

In terms of borrowings/equity:

It has been rapidly reduced - from 3.2 in 2012 to 2.2 for 2015.
It is well below their self-imposed upper limit of 3.5.
It is even further below their banking covenant of 5.


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