Provident Financial

[piccadilly]

Does anybody know why there was a large fall in this share price yesterday?

[kempiejon]

http://www.investegate.co.uk/intnl-pers ... 33064791R/

[jackdaww]

Does anybody know why there was a large fall in this share price yesterday?

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some clampdown in poland - PFG do some business there .

but a 3% fall isnt that serious?

.

[kempiejon]

Though of course International Personal Financial (which I'm pretty sure was spun out of Provident some years back) has lost some 40% on the news.

[77ss]

some clampdown in poland - PFG do some business there

No. They do not.

IPF was demerged years ago and the Polish pilot of Vanquis has been wound up.

I expect that the Polish action, affecting IPF, is just a reminder to the market (if it needed it, in the wake of the action on IGG here.) of how regulatory action can damage a business (I pass no comment on its justification or otherwise).

I think you are quite right when you ask whether 3% is significant.

Personally, I perceive it as an over-reaction - PFG is a much more broadly based business than IPF. We shall see come Monday

[BobGe]

some clampdown in poland - PFG do some business there

No. They do not.

Not quite how it's implied in the RNS though...

"IPF is reviewing the proposal to assess the extent to which the profitability of its Polish business would be affected by the proposed changes, should they be implemented, and is also examining appropriate mitigation strategies to minimise any potential impacts."

[77ss]

some clampdown in poland - PFG do some business there

No. They do not.

Not quite how it's implied in the RNS though...

"IPF is reviewing the proposal to assess the extent to which the profitability of its Polish business would be affected by the proposed changes, should they be implemented, and is also examining appropriate mitigation strategies to minimise any potential impacts."

How on earth does a statement by IPF about its Polish business imply anything whatsoever about PFG, with its UK and Irish business?

[BobGe]

Oh, sorry, a mix up perhaps. It was the RNS linked to in the second post.