International Personal Finance Plc Upgrade to market expectations (8638B)
15 June 2021 - 4:00PM
UK Regulatory
TIDMIPF
RNS Number : 8638B
International Personal Finance Plc
15 June 2021
This announcement contains inside information
International Personal Finance
Upgrade to market expectations
15 June 2021
Since our Q1 trading update issued on 29 April 2021, the Group's
operational performance has continued to be positive. Credit issued
has been broadly in-line with our internal expectations despite
tighter Covid-19 related restrictions in a number of our markets.
As we highlighted in the Q1 trading update, our business plan
assumed a weakening in collections performance due to subsequent
waves of the pandemic in the first half of 2021. In contrast, our
actual collections performance has continued to be very strong
resulting in a faster-than-anticipated improvement in impairment as
a percentage of revenue.
While we remain cautious given the dynamic Covid-19 environment,
the faster-than-anticipated improvement in impairment in April and
May is expected to result in a further improvement in the full-year
impairment charge and a significantly stronger rebound in
profitability in 2021 than was expected at the time of our Q1
trading update.
Investor relations and media contact:
International Personal Finance Rachel Moran
+44 (0)7760 167637 / +44 (0) 113
539 5466
A copy of this statement can be found on our website -
www.ipfin.co.uk
Legal Entity Identifier: 213800II1O44IRKUZB59
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