logo-loader
viewInternational Personal Finance

International Personal Finance shares rise on solid 2018 performance

For the year ended 31 December 2018, the FTSE Small Cap firm saw its adjusted pre-tax profits increase by 16% to £109.3mln, as revenue rose by 4.1% to £866.4mln

shark
IPF saw a 5.5% rise in credit issued to £1.36bln, while the number of customers increased by 0.5% to 2.3mln

International Personal Finance PLC (LON:IPF) saw its shares rise on Wednesday as the group managed to improve profits across all its businesses in 2018, namely home credit in Europe and Mexico, as well as IPF Digital, in spite of tax issues in Poland.

For the year ended 31 December 2018, the FTSE Small Cap firm saw its adjusted pre-tax profits increase by 16% to £109.3mln, broadly in line with consensus forecasts, as revenue rose by 4.1% to £866.4mln.

READ: IPF shares drop as it warns on impact of Romanian credit limits and Polish tax laws

The home credit group recorded a 5.5% rise in credit issued to £1.36bln, while the number of customers increased by 0.5% to 2.3mln. The group maintained its credit quality with impairments amounting to 26.2% of revenues.

IPF's chief executive Gerard Ryan said: "We are particularly pleased with IPF Digital's profit trajectory, with a strong contribution from established markets and reduced start-up losses within new markets, driven by both excellent customer acquisition and strong credit growth."

The group maintained its dividend at 12.4p per share.

In early afternoon trading, shares in IPF were up 5.6% to 204.4p.

In a note to clients, analysts at Shore Capital maintained a ‘hold’ rating on IPF, saying: “We currently see fair value at 205p (3% upside) before model roll-forward and post results forecast updates. However, this includes a 25% ‘haircut’ for regulatory risk, primarily associated with the issues in Poland.” 

 

Quick facts: International Personal Finance

Price: 70 GBX

LSE:IPF
Market: LSE
Market Cap: £156.58 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

i3 Energy team discuss acquisition of Toscana Energy and new growth business

i3 Energy Plc's (LON:i3E) Majid Shafiq and Graham Heath speak to Proactive London's Andrew Scott following the news this morning of a new strategic acquisition - picking up producing assets in Canada. i3E's secured terms to acquire Toronto listed Toscana Energy Income Corporation which owns...

10 hours, 48 minutes ago

2 min read