Pre-tax profits take a dive at subprime lender
Despite a massive drop in pre-tax profits and with chief executive Peter Crook declaring his “disappointment” at the performance of its home credit business, dividends at Provident Financial have been maintained.
The Bradford-based subprime lender saw pre-tax profits for the first half of the year, to 30 June 2017, reduce by 85.5% to £6.3m, from £43.5m in the same period last year.
It said that annualised return on assets of 13.1% to June 2017 was reduced from 15.7% in the first half of 2016, primarily due to the impact... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
