Bradford-based Provident Financial recorded an adjusted pre-tax loss of £ 32.6million for the six months ended June 30, 2020, but said this was better than the initial impact expected from a disruption due to coronavirus.
For the same period last year, the company reported adjusted pre-tax profits of £ 80.4million. Malcolm Le May, CEO of Provident Financial, said: “The first six months of this year have been the most difficult and difficult of my career.
I am very satisfied with the way the group has responded to the challenges of Covid-19 and the efficiency with which we have operated
“We are reporting an adjusted pre-tax loss of £ 32.6million for the period. This is better than our initial assessment of the potential impact of Covid-19 on our business.” Exeter Chiefs’ second
“Looking ahead, our strong financial position will allow us to continue to responsibly serve and lend our customers, many of whom are key workers, as we and they face the challenge of securing support. for the holidays. quit smoking and unemployment will increase in the coming months.
“Provident Financial had a strong performance in the first half of the year as we focused on our clients and colleagues and strengthened our track record in the face of the challenges of the pandemic.
the financial and operational performance was better than expected, so we decided to return all vacation pay to the government.
“We believe it is the right thing to do and, on behalf of clients, we have advocated that the government encourage more funding for the sector.
“Our market will grow due to the pandemic, but at the moment the supply of credit in the market appears to be shrinking, which may not be a good outcome for customers or for the UK.”
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