The middle of the week will bring half-year results from doorstep lender Provident Financial Group PLC (LON:PFG), although the firm may be painting a mixed picture for investors as a result of the coronavirus pandemic.
With the company relying on non-standard, unsecured, consumer debt for most of its business, the economic downturn and resultant job losses may make recoveries more difficult from newly employed borrowers, however, at the same time, those facing financial distress may need to rely on more of Provident’s finance products, potentially leading to an uptick in demand and growth in its loan book.
The company’s long history may also make it more likely to withstand the storm than its younger rivals, potentially removing competitors in the long run.
There is little else in the corporate calendar for the middle of the week, aside from a smattering of other half year and full-year results, although US durable goods orders may provide some macro flavour.
Significant announcements for Wednesday August 26:
Economic data: US durable goods orders