Provident Financial has highlighted “good recovery” in its interim results for the six months ending on 30 June 2019. The listed doorstep lender, which serves 2.4m customers, reported pre-tax profits of £74.9m for the first half of 2019, the same as the equivalent period for last year.
Malcolm Le May, Chief Executive Officer, said “Despite the distraction of the unsolicited bid from February to June this year, I am pleased with the group’s operational and financial performance during the first half of the year. We have delivered strong new business volumes whilst maintaining stable delinquency trends and our first half results are in line with our internal plans. We are pleased to announce the reinstatement of an interim dividend of 9.0p per share, which reflects our confidence in the ongoing recovery of the group. We will be hosting a Capital Markets Day on 7 November 2019 where we will provide further detail on the medium-term strategy and outlook for the group.”
Separately Simon Thomas, Chief Financial Officer, has notified the Board of his intention to step down from the Board following the 2019 preliminary results announcement in March 2020 for personal health reasons.