Current lending trends to lead to strong year

International Personal Finance expects the key Christmas period to help it beat market expectations for 2009

Holly Cook 15 December, 2009 | 2:42PM

Home credit provider International Personal Finance soared to the top of the mid-cap leaderboard on Tuesday, after confirming in a pre-close update that it expects to slightly exceed expectations when it reports full-year 2009 results in March of next year.

Shares in the group jumped 7% to 215.7p on the FTSE 250 index, which by early afternoon was trading down 0.6% at 8,985.2 points, after management said full-year results will top expectations if present conditions remain over the final three “key” weeks of the year. Consensus is for full-year pretax profit of £58 million in 2009, according to IPF.

Though clearly seen as a positive for the company, this news is something of a double-edged sword for the consumer, implying that IPF expects the Christmas period to result in increased requests for borrowing.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
International Personal Finance PLC171.00 GBX0.59

About Author

Holly Cook

Holly Cook  is Managing Editor of Morningstar.co.uk

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