More of an unlikely, BE. Whilst profits do not = cash flow, this move seems proactive/preventative. I would imagine that part of their business has been hit by the web based pay day loan lot so they are "aligning" costs and revenues.
Article is a rehash of one in t&a last week. Bit it doesn't mention, that t&a did, is that vantage credit card side of business is booming and creating a large number of jobs. Can't see it affecting our sponsorship deal TBH. That's small fry for sort of turnover provident makes.
Doubt there is actually any drop in profits given the amount made on the card side of the business. Fewer loans and more credit cards, it sounds like it's no more than a change in emphasis in the different parts of the business.
More of an unlikely, BE. Whilst profits do not = cash flow, this move seems proactive/preventative. I would imagine that part of their business has been hit by the web based pay day loan ....
They don't do their own one, then, in the form of a satsuma or something?
yes, indeed, good point, but they are not the pay day loan market leaders, and their door to door product is much more labour intensive than the web site/call centre side, hence the need to reduce numbers around the country not just at HO.
Update: If the capping on payday loan sharks just announced does not extend to door-to-door too, there may well be a future up-alignment for our worth sponsors.
pinch of salt.
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