PFG steady

Provident Financial expects to report results for 2016 in line with market expectations, with each business meeting its internal forecast.

Consensus market expectations are for a group profit before tax, amortisation of acquisition intangibles and exceptional items of £333.9m.

“I am pleased to report that each of our businesses continued to trade well through the final quarter of the year and the group is expected to report 2016 results in line with market expectations,” said CEO Peter Crook.

The group’s funding position remains strong. The headroom on the group’s committed debt facilities at 31 December 2016 amounted to about pound;140m which, together with the retail deposit programme at Vanquis Bank, is sufficient to fund maturities and projected growth until May 2018.

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