That rarest of beasts - the quadruple whammy.

[tikay]

Pity anyone who holds shares in Provident Financial, who announced a quadruple whammy yesterday;


a fresh profit warning, no dividend, an FCA investigation and the chief executive departure

From here;

http://www.telegraph.co.uk/business/2017/08/22/provident-financial-shares-plunge-losses-deepen-boss-quits/


In May of this year the shares were quoted at £32.

A week ago they were quoted at £19.

This morning they are £6.


It's pretty rare for a FTSE 100 Company to suffer such a one day fall as they did yesterday (which was on top of a big fall in June). The biggest one day fall is 67.8% by Ashtead Group, 14 long years ago. Provident fell 66.2% yesterday.


The Times summed it up rather cruelly this morning, saying it's a rum do when a Business that lends money at an APR of 535% can't turn a profit.

[Doobs]

Pity anyone who holds shares in Provident Financial, who announced a quadruple whammy yesterday;


a fresh profit warning, no dividend, an FCA investigation and the chief executive departure

From here;

http://www.telegraph.co.uk/business/2017/08/22/provident-financial-shares-plunge-losses-deepen-boss-quits/


In May of this year the shares were quoted at £32.

A week ago they were quoted at £19.

This morning they are £6.


It's pretty rare for a FTSE 100 Company to suffer such a one day fall as they did yesterday (which was on top of a big fall in June). The biggest one day fall is 67.8% by Ashtead Group, 14 long years ago. Provident fell 66.2% yesterday.


The Times summed it up rather cruelly this morning, saying it's a rum do when a Business that lends money at an APR of 535% can't turn a profit.

Pity them, after choosing to invest in these misery peddlars?  I am struggling to join you.

The change in debt collection figures since changing their methods is astonishing. 

[tikay]

Pity anyone who holds shares in Provident Financial, who announced a quadruple whammy yesterday;


a fresh profit warning, no dividend, an FCA investigation and the chief executive departure

From here;

http://www.telegraph.co.uk/business/2017/08/22/provident-financial-shares-plunge-losses-deepen-boss-quits/


In May of this year the shares were quoted at £32.

A week ago they were quoted at £19.

This morning they are £6.


It's pretty rare for a FTSE 100 Company to suffer such a one day fall as they did yesterday (which was on top of a big fall in June). The biggest one day fall is 67.8% by Ashtead Group, 14 long years ago. Provident fell 66.2% yesterday.


The Times summed it up rather cruelly this morning, saying it's a rum do when a Business that lends money at an APR of 535% can't turn a profit.

Pity them, after choosing to invest in these misery peddlars?  I am struggling to join you.

The change in debt collection figures since changing their methods is astonishing.  

The shift saw its debt collection rates drop from 90pc a year ago to 57pc

As the cliché goes, "system working great, send more money".

Are they still head-quartered up in Bradford?

[Doobs]

Pity anyone who holds shares in Provident Financial, who announced a quadruple whammy yesterday;


a fresh profit warning, no dividend, an FCA investigation and the chief executive departure

From here;

http://www.telegraph.co.uk/business/2017/08/22/provident-financial-shares-plunge-losses-deepen-boss-quits/


In May of this year the shares were quoted at £32.

A week ago they were quoted at £19.

This morning they are £6.


It's pretty rare for a FTSE 100 Company to suffer such a one day fall as they did yesterday (which was on top of a big fall in June). The biggest one day fall is 67.8% by Ashtead Group, 14 long years ago. Provident fell 66.2% yesterday.


The Times summed it up rather cruelly this morning, saying it's a rum do when a Business that lends money at an APR of 535% can't turn a profit.

Pity them, after choosing to invest in these misery peddlars?  I am struggling to join you.

The change in debt collection figures since changing their methods is astonishing.  

The shift saw its debt collection rates drop from 90pc a year ago to 57pc

As the cliché goes, "system working great, send more money".

Are they still head-quartered up in Bradford?

As far as I know.  Not the best news for Bradford.  Right up there with all the almighty cockups RBS made.