Amigo Holdings (AMGO)

Investors liked plans by Apple to offer various new services including new TV, gaming and credit card platforms, sending its shares up 1.4% to $191.4. This move suggests it is trying new ways of growing earnings without being so reliant on sales of iPhones and its other consumer electronics products, which are slowing. While the company may be nearing saturation point with sales of tablets and ...

UK markets are starting to bounce back after yesterday’s Brexit calamity. The FTSE 250, which is considered the benchmark index for UK-focused companies, nudges up 0.2 points to 17,493, although that still leaves it trading well below the 21,324 year-to-date high. The FTSE 100 achieves a stronger lift, advancing 24 points to 6,746 off the back of gains in the mining and oil sectors, plus support ...

Maiden half year results from loan provider Amigo (AMGO) are getting a lukewarm reaction from the market with the shares down 1.1% to 262p. As a result, the shares are now 5% lower than the 275p issue price from its June IPO. There are no real nasty shocks in the numbers, which is probably a relief give the problems facing other firms in the sub-prime lending space. Notably Wonga which went ...

The summer stock market float of Amigo (AMGO) brought the UK’s best known guarantor loan company to the London Stock Exchange with a market cap of £1.3bn. Given the trouble of some companies in the sub-prime lending sector, notably Wonga, it is worth asking if all companies in this bracket, including Amigo, can be tarred with the same brush? Amigo’s chief executive Glenn Crawford is ...

The FTSE 100 is down 48 points to 7,514 as positive trading in the US fails to cross the pond to the UK. As the pound continues to make gains against the dollar, the overseas earning constituents of the main index feel the strain. FTSE 250 staffer Hays (HAS) is down 2.7% to 197.35p on release of its full year results. The company’s pre-tax profits grew by 17% to £238.5m and raised its core ...

One of the most well-known payday loan companies, Wonga, is understood to be in financial trouble following a surge in customer compensation claims relating to loans taken out before 2014. The situation is likely to result in increased regulatory pressure on the sector which includes several listed companies. Wonga’s problems are ‘very company specific’, relating to historically mis-sold ...

Lending to sub-prime candidates is big business but comes with equally big risks. High-profile problems with doorstep lender Provident Financial (PFG) may have reduced investors’ appetite for the sector, yet the stock market flotation of another loans business, Amigo (AMGO), is good reason to reappraise this space. Amigo has pioneered a new business model which keeps the interest charged within ...