Proactiveinvestors RSS feed en Sun, 15 Jul 2018 14:52:54 -0400 Genera CMS (Proactiveinvestors) (Proactiveinvestors) <![CDATA[News - MCB Finance Group to post profitable second half as credit performance improves ]]> MCB Finance Group (AIM: MCRB) expects to be EBT (earnings before tax) profitable in the second half after performance improved “materially” from the first half of the year.

However, the group said that due to the pre-tax loss recorded in the first half the full year results will likely show an EBT loss.

The changes in the credit criteria implemented during the year led to an improvement in credit performance with the performance of more recent lending pools being back to the levels seen in 2008 in spite of weak economic conditions in all markets. The reorganization of collection processes have also reaped benefits, resulting in better recoveries.

As collection, reorganization and credit scoring capabilities show further improvement, the group is expecting to gradually increase lending volumes.

“In response to unprecedented market conditions we have had to take a number of measures which are achieving the intended results. While continuing to take a cautious approach to risk, we look forward to achieving increased lending volumes followed by improvement in the Group's financial performance,” said Chief Executive of MCB Group Rami Ryhänen.

The group will announce its full year results in March 2010.

Wed, 30 Dec 2009 11:22:00 -0500
<![CDATA[News - MCB Finance Group increases bad debts provision, expects first half loss ]]> MCB Finance Group plc (AIM: MCRB), the consumer finance company providing flexible credit solutions to retail customers in Finland, Estonia, Latvia and Lithuania provided a trading update ahead of the publication of its interim results for the six months ended 30 June 2009.

The consumer finance company reiterated its cautious stance first outlined in a trading up on 22 May 2009, warning that its key markets continued to be impacted by the “significant deterioration in economic conditions”. As a result, MCB Finance Group said it had increased the provision levels on loans in arrears on the balance sheet, which would push the company into a loss for the six months to 30 June 2008.

Looking ahead, the company said it expected second half results to improve, largely thanks to its tighter lending criteria and improved credit monitoring and collection processes.

“Whilst it is still relatively early in the process, the Company is encouraged that these actions appear to be working, with repayment rates having stabilized over the last couple of months,” the company added.

Interim results are due to be announced the first week of September 2009.

Tue, 18 Aug 2009 10:30:00 -0400
<![CDATA[News - Mobile Baltic dives on discounted fundraising ]]>
Mobile Baltic said it had conditionally placed approximately 3.3 million shares at 115 pence per share to raise £3.8 million before expenses. The placing price was at a 38% discount the closing price the day before the announcement.

The proceeds will be sued to "support the Company's significant further growth for 2008 and planned expansion in the Fenno-Baltic markets."

Rami Ryhanen, Chief Executive, said:

"We are delighted to have completed the placing despite the very difficult recent market conditions."
Thu, 14 Feb 2008 03:22:00 -0500