Non-Standard Finance PLC Annual General Meeting Trading Statement (6097Z)
May 21 2019 - 2:00AM
UK Regulatory
TIDMNSF
RNS Number : 6097Z
Non-Standard Finance PLC
21 May 2019
Non-Standard Finance plc
(the 'Company' or the 'Group')
2019 Annual General Meeting
Trading Statement
21 May 2019
Ahead of the Company's Annual General Meeting to be held later
today, the Group has made the following statement:
Trading update
The Group has seen continued strong loan book growth since the
start of the year. At the same time there has been a further
year-on-year reduction in the overall rate of impairment and as a
result, the Board remains optimistic about the full year
outlook.
Having already opened all seven of the new branches scheduled
for this year, Everyday Loans has continued to enjoy strong loan
book growth through a network of branches that now total 73
compared with 36 when we acquired Everyday Loans in 2016. In
guarantor loans, the recent trends in loan book growth have also
continued whilst Loans at Home has seen a modest increase in risk
adjusted margins as we improve the mix of lending towards
shorter-term loans which also reduces the total cost of credit for
customers.
The Board wishes to thank all employees and self-employed agents
for their continued dedication and focus on delivering great
outcomes for our customers over the past year.
Offer for Provident Financial (the 'Offer')
Having declared the Offer unconditional as to acceptances on 15
May 2019, we are continuing to engage with Provident Financial
shareholders that have yet to accept our Offer and are also working
towards satisfying all of the other outstanding Offer
conditions.
This is an exciting moment for our Company. We have a clear
transformation plan for the enlarged Group and are ready to start
work on implementing it so that we can start to build a brighter
future for all stakeholders.
For more information:
Non-Standard Finance plc +44 (0) 20 3869
Peter Reynolds, Director, IR and Communications 9026
This announcement is not intended to and does not constitute or
form part of any offer to exchange or subscribe for or any
invitation to exchange or subscribe for any securities or the
solicitation of any vote or approval in any jurisdiction pursuant
to the Offer or otherwise. The Offer is made solely pursuant to the
terms of the offer document published by the Company on 9 March
2019 (the 'Offer Document'), which contains the full terms and
conditions of the Offer. Any decision in respect of, or other
response to, the Offer should be made only on the basis of the
information contained in the Offer Document. The contents of this
announcement are not to be construed as legal, business, financial
or tax advice. This announcement does not constitute a prospectus
or prospectus equivalent document.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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