International Personal Finance Reports Q2 Earnings, Announces Acquisition by BasePoint
International Personal Finance (IPF.L) reported strong first-half performance in its latest earnings call, with net receivables rising 17% to £1.17 billion and customer numbers increasing 5.4% to 1.743 million. Lending grew by 18.5%, driven primarily by Provident Europe, Poland, Mexico, and IPF Digital. Despite this growth, pre-exceptional profit before tax fell 5% year-over-year to £47.4 million due to ongoing investments in technology and expansion. The company is nearing the completion of its acquisition by BasePoint under a recommended offer valued at £2.50 per share, including a special dividend. Regulatory approval was received on July 3, with court sanction scheduled for July 31 and expected finalization on August 4 if no delays occur. CFO Gary Thompson noted that returns are likely to remain below the company's target of 15%–20% through 2027 due to continued investment in growth initiatives. Credit quality remained stable despite a higher impairment rate, with customer and lending growth across key markets like Poland and Mexico contributing significantly. The acquisition marks IPF’s final financial results as a listed company.