Hardman and Co analyst Mark Thomas joins DirectorsTalk to discuss his note on Morses Club (LON:MCL) recent acquisitions. Mark talks about the acquisitions, what Curo does to build the group, the expectant profits, Curo’s administration and the in-fill deals.
Morses Club plc is the second largest UK Home Collected Credit (HCC) lender with 230,000 customers and 1,900 agents across 94 locations throughout the UK.
The Company offers a range of loan products to its customers through its extensive self-employed agent network. The majority of the Company’s borrowers are repeat customers and the Company enjoys consistently high customer satisfaction with scores of 95% or above.
The Company is using technology to broaden its offering and provide new products to ensure customers can access credit with the flexibility they require. In April 2016, its cashless lending product, the Morses Club Card, was introduced, enabling its customers to buy online as well as on the high street. Dot Dot Loans, the Company’s first online installment product, was launched in March 2017.