11 August 2020

Yesterday's trading update from the provider of non-standard financial services was very reassuring with trading at the group continuing to improve.  The group is the second largest provider of home-collected credit after Provident Financial with 224,000 customers throughout the UK.  The company makes small, unsecured cash loans which are delivered directly to customers' homes with repayments being collected in person during weekly follow up visits.  Most of the group's borrowers are repeat customers and the market is characterised by high frequency borrowing.  The group also has a growing digital business Shelby Finance . . .

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