Morses Club Plc (LON:MCL) is the topic of conversation when Hardman & Co Finance Analyst Mark Thomas joins DirectorsTalk. Mark explains what he took away from Morses Club recent results, expands on the numbers, what management said about the CTL acquisition and the use of technology.
Morses Club is the second largest UK Home Collected Credit (HCC) lender with 235,000 customers and 2,050 agents across 95 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 97% or above1.
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 instalment product, was launched in March 2017.