I guess if you just read the headlines of the update you could easily say "fantastic" but not looking at the company through rose tinted glasses I find the following some what concerning. The company in it's latest update is quick to cheer on the following........
flexigroup maintains an attractive customer profile with over 75% of customers over the age of 35 with a strong penetration of home ownership.
From experience I can say when unemployment rises and house prices decrease,which is widely broadcast to happen, this demographic usually spend and borrow a lot less. Very odd the company would use this in a positive light and a fair indication they are detached from the realities of how covid 19 is going to effect their customers base. Although in saying that the SP has already been monstered but markets don't like companies that don't seem to be in touch with reality.
FXL Price at posting:
72.0¢ Sentiment: None Disclosure: Not Held
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