At the Annual General Meeting to be held in Leeds today, Paul Smith, Chief Executive Officer of Morses Club, will make the following trading statement covering the period from 26 February 2017 to 19 June 2017:
“Trading performance over the period is encouraging and is in line with the Board’s expectations. Our net loan book and customer numbers have continued to increase and impairments remain within our guidance range reflecting our focus on higher quality lending. Territory builds have contributed to our loan book growth and continue to represent an attractive opportunity for us.
“We successfully launched Dot Dot, our first online instalment loan product, in March, and customer applications are on track, complementing our core Home Collected Credit offering with digital products that can be accessed by a wider range of customers from across the UK non-standard credit market.
“In May, we received our full FCA authorisation and remain focused on delivering flexible products which match the needs of our customers, using technology to support our strategic plan of offering customers a broader range of products and first class customer service.”
The results of the AGM will be announced following the conclusion of the meeting later today.