A trading update ahead of PCF’s AGM due later today reports strong trading in the five months to end-February 2019, in line with management’s expectations. Origination volumes are up 78% YoY to £98m compared to PCF’s FY2019 target of £250m. Trading at 1.3x NAV/share at end-2019E, adjusted for the recently announced £10m capital raise, for an estimated 14% RoE in FY2019E with significant medium-term profitability improvement potential, we think PCF is underv
08 Mar 2019
Positive AGM trading statement
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Positive AGM trading statement
PCF Group plc (RLW:FRA) | 0 0 0.0% | Mkt Cap: 55.1m
- Published:
08 Mar 2019 -
Author:
Robert Sanders -
Pages:
2
A trading update ahead of PCF’s AGM due later today reports strong trading in the five months to end-February 2019, in line with management’s expectations. Origination volumes are up 78% YoY to £98m compared to PCF’s FY2019 target of £250m. Trading at 1.3x NAV/share at end-2019E, adjusted for the recently announced £10m capital raise, for an estimated 14% RoE in FY2019E with significant medium-term profitability improvement potential, we think PCF is underv