Morses Club results update

Morses Club plc

Morses Club PLC (LON:MCL), an established provider of non-standard credit services, today announced that its full-year results for the 52-week period ending 26 February 2022 will be reported on 25 August 2022. The Directors continue to expect that the results will be in line with guidance given on 20 July 2022.

Morses Club is an established provider of non-standard credit services in the UK. The Group consists of Morses Club, the UK’s largest home collected credit (“HCC”) provider, and Shelby Finance Limited, Morses Club’s Digital division, which operates under the online brand of Dot Dot Loans, an online lending provider.  The Group’s growing Digital capabilities and scalable, highly invested IT platform has enabled Morses Club to deliver a range of lending products to the non-standard credit market.

UK HCC is considered to be a specialised segment of the broader UK non-standard credit market. UK HCC loans are typically small, unsecured loans delivered directly to customers either remotely or in their homes.

Morses Club’s HCC division is the largest UK Home Collected Credit (HCC) lender1 with 144,000 customers throughout the UK.   The HCC division enjoys consistently high customer satisfaction scores of 98%2. In 2019 the Company introduced an online customer portal for its HCC customers, which now has over 108,000 registered customers.

The Group’s growing Digital division, Shelby Finance, operates under the online brand Dot Dot Loans which provides online instalment loans of up to 48 months to c. 47,000 active customers.

Morses Club listed on AIM in May 2016.

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