Recent Management Changes: Provident Financial PLC, Tullow Oil PLC, And CentralNic Group Plc

  • December 10, 2019 04:56 AM GMT
  • Team Kalkine
Recent Management Changes: Provident Financial PLC, Tullow Oil PLC, And CentralNic Group Plc
Provident Financial PLC (LON: PFG)

Incepted in 1960, United Kingdom-based Provident Financial Plc is a financial services group engaged in the business of consumer credit with an objective of financial inclusion. The company’s areas of operations are divided into divisions, such as Vanquis Bank, CCD and Moneybarn. The shares of the company got listed on the main market of the London Stock Exchange on 16th March 1962.

PFG-Change of Directorate

The company looks forward to Neeraj Kapur, who would be joining the company as the Chief Finance Officer. Neeraj Kapur has rich experience in retail banking, consumer savings and credit experience and expertise, and shall be an excellent addition to the senior leadership team as the company continues to re-establish itself as the leader of the subprime lending market. He will commence his duties on 1 April 2020.

PFG-Trading update for Q3 FY19

The group has continued to deliver results in line with internal plans during the third quarter, with all three divisions producing good business volumes and a stable impairment performance. Vanquis Bank has showcased stable delinquency and the results are in line with internal plans during the third quarter of the fiscal year 2019. During the third quarter of the fiscal year 2019, Moneybarn has yet again delivered strong performance on new customer volumes and receivables growth. Consumer Credit Division (CCD) has delivered results mainly in line with company’s expectations during the third quarter of the fiscal year 2019.

PFG-Stock price performance

(Source: Thomson Reuters) Daily Chart as on Dec-10-19, before the LSE market close

On 10th December 2019, while writing at 12:02 PM GMT, PFG shares were clocking a current market price of GBX 419.60 per share, down by 1.57 per cent from the previous day. The total market capitalisation of the company was at £1.08 billion while writing.

In the last 52 weeks, the shares of PFG have touched a new peak of GBX 665.20 on 09th January 2019 and reached the lowest price level of GBX 348.70 on 15th August 2019. The company’s shares were trading at 20.33 per cent higher the 52-week low price mark and at 36.92 per cent lower mark from the 52-week high price level as can be seen in the price chart at the current trading level.

The volatility of the company’s stock was lower as compared with the index taken as the benchmark, as the beta of the company’s stock was recorded at 0.41 with an annual dividend yield of 4.46 per cent.

The shares of the company have delivered a positive return of 5.60 per cent in the last quarter. The company’s stock dipped by 25.86% in the year to date time period. The company’s stock has given investors 2 per cent of negative return in the last month.Â

Tullow Oil PLC (LON: TLW)

The leading oil & gas exploration and production company, Tullow Oil Plc has its business spanning across 10 plus countries. The production activities and developments in West Africa and Europe is looked after by the West Africa team while the East African team manages the exploration activities in Kenya. The company’s exploration activities across Africa and South America are carried out by the New Ventures team.

TLW-FY20 guidance and board changes

The company in a press release on 9th December 2019, announced its guidance for the fiscal year 2020 and declared some significant changes to the board of the company. The company appointed Dorothy Thompson as a temporary Executive Chair and Mark MacFarlane as a Chief Operating Officer. The company’s CEO, Paul McDade, and its Exploration Director, Angus McCoss, have resigned from the company.

The company’s forecasted average net production was estimated at 87,000 bopd for the year 2019. The company expected free cash flow of $350 million for FY 19 with liquidity of more than $1 billion. The company forecasted its production to average between 70,000 and 80,000 bopd in the year 2020 and average around 70,000 bopd for the following three years.

 TLW-Stock price performance

(Source: Thomson Reuters) Daily Chart as on Dec-10-19, before the LSE market close

On 10th December 2019, while writing at 12:44 PM GMT, TLW shares were clocking a current market price of GBX 44.32 per share, up by 10.97 per cent from the previous day. The total market capitalisation of the company was hovering around £561.79 million while writing.

In the last 52 weeks, the shares of TLW have touched a new peak of GBX 254.71 on 23rd April 2019 and reached the lowest price level of GBX 38.05 on 9th December 2019. The company’s shares were trading at 16.48 per cent higher the 52-week low price mark and at 82.60 per cent lower mark from the 52-week high as can be seen in the price chart at the current trading level.

The stock’s 5-day daily average traded volume of the company was 35,381,443.40; 30 days daily average traded volume- 13,168,342.43- and 90-days daily average traded volume – 8,290,902.70. The beta of the company’s stock was recorded at 1.85, which indicated higher volatility with an annual dividend yield of 2.65 per cent.

In the last three months, the shares of the company have delivered a negative return of 81.54 per cent. The company’s stock plunged by 77.70 per cent from start of the year to till date. The company’s stock has given investors 80.84 per cent of negative return in the last month.Â

CentralNic Group Plc (LON: CNIC)Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â

United Kingdom based, CentralNic Group Plc is into the business of creating and developing software platforms. The company facilitates global domain name registry for the entities. The company’s shares got quoted on the AIM market of the London Stock Exchange on 2nd September 2013.

CNIC-Board changes

The company was happy to announce that Iain McDonald would be stepping up from the position of Non-Executive Director of the company to the position of the Non-Executive Chairman of the company. He possesses in-depth understanding of the e-commerce business and the realm of technologies along with the businesses within them. His rich experience shall be instrumental to the company’s further expansion, both organic and through acquisition. In addition, the company has retained the outgoing Non-Executive Chairman Mike Turner as a Non-Executive Director on the board.

CNIC-Business performance H1 FY19 period ended 30th June 2019

(Source: London Stock Exchange)

The company’s revenue surged by 225 per cent to $49.7 million in the first half of the fiscal year 2019 in contrast to $15.3 million in the first half of the fiscal year 2018. The company’s gross profit surged by 127 per cent to $19.7 million in the first half of the fiscal year 2019 in contrast to $8.7 million in the first half of the fiscal year 2018. The company’s Adjusted EBITDA surged by 203 per cent to $9.2 million in the first half of the fiscal year 2019 in contrast to $3.1 million in the first half of the fiscal year 2018. The company’s Operating profit surged by 266 per cent to $2.4 million in the first half of the fiscal year 2019 in contrast to an operating loss of $1.4 million in the first half of the fiscal year 2018.  At the end of first half of 2019, the company had cash balances of $17.9 million.

  CNIC-Stock price performance

(Source: Thomson Reuters) Daily Chart as on 10-December-19, prior to the close of the market

On 10th December 2019, at 01:25 P.M GMT, while writing, CentralNic Group Plc’s share price was reported to be trading at GBX 65.00 per share on LSE, a decrease of 1.52 per cent or GBX 1.00 per share, as compared to the previous day’s closing price, which was reported to be at GBX 66.00 per share. At the time of reporting, the CentralNic Group Plc ‘s share was reported to be trading 66.67 per cent above the 52-week low share price, which was at GBX 39.00 per share, that the company’s shares reached on October 16, 2019. The company’s market capitalisation (M-Cap) was reportedly valued to be at GBP 119.98 million with respect to the share’s current market price.

The CentralNic Group Plc’s share has given a positive change in the last three months in the value, of around 26.21 per cent from the share price of GBX 51.50 per share that the company’s share achieved on September 10, 2019. CentralNic Group Plc’s share has also risen by 26.92 per cent in the year to date time period.

 The beta of the CentralNic Group Plc ‘s share has been reported to be negative, stood at 0.81. This basically implies that the volatility in the price movement of the company’s stock, is opposite in comparison to the volatility in the movement of the comparative benchmark index.

 

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