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Three Quick Facts: Go-Ahead, Polymetal International and Provident Financial

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Three things you need to know in the financial markets this morning from investment writer, Tony Cross.

Go-Ahead

Another relatively light day for corporate news as would be expected at this time of the year, but transport operator Go-Ahead [LON:GOG] has announced that it has secured a two year contract extension from the Land Transport Authority of Singapore. This will see the company continuing to operate around 450 buses in one region of the city-state until at least September 2023. Over the last four years since operations commenced, Go-Ahead notes that it has helped improve customer satisfaction and efficiency of both drivers and engineers.

Polymetal International

Interim results are out from Polymetal International [LON:POLY] today, with the company noting that strong commodity prices during the first half of the year have helped support the business. Revenues rose 21% whilst cash costs fell marginally, contributing to a 53% increase in EBITDA. An interim dividend of US$0.4 per share, 50% of underlying earnings for the period and double what was paid in 2019 is being proposed – something which is likely to give shareholders cause for cheer.


Provident Financial

Provident Financial [LON:PFG], the sub-prime lender, has published interim results today. Losses in its consumer credit division have taken a toll on performance as lower customer numbers and increased impairment charges took a toll on operations. The company notes that performance until mid-March was ahead of expectations and that the impact of COVID-19 is already abating, with requests for payment holidays in its Moneybarn division having fallen from around 400/day at its peak to 20/day over the last two months. Liquidity also remains strong, with the group holding £705m worth of regulatory capital, some £215m more than is necessary.

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This article does not constitute investment advice. Do your own research or consult a professional advisor.

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