International Personal Finance Q2 Earnings Call Highlights

Strong growth continued: First-half net receivables rose 17% to £1.17 billion, while customers increased 5.4% to 1.743 million and lending grew 18.5% at constant exchange rates. Growth was led by Provident Europe, Poland, Mexico and IPF Digital.

Profitability remains pressured by investment: Pre-exceptional profit before tax was £47.4 million, down 5% year over year, as the company invested in technology and growth. Returns are expected to remain below the 15%–20% target through 2027, while credit quality was described as stable despite a higher impairment rate.

Acquisition nearing completion: BasePoint’s recommended £2.50-per-share offer, including a £2.35 payment and 15 pence special dividend, has received regulatory approval. Court sanction is scheduled for July 31, with completion expected August 4 if all steps proceed as planned.

International Personal Finance LON: IPF reported pre-exceptional profit before tax of £47.4 million for the first half of 2026, alongside 17% year-over-year growth in net receivables, as demand remained strong across its consumer lending markets. The company said the result was delivered through operational execution, continued investment in growth and technology, and stable credit quality.

CFO Gary Thompson said the reported profit decline of 5%, or 13.5% at constant exchange rates, was consistent with guidance provided at the prior year-end as the group accelerates investment in its growth agenda. The presentation was also International Personal Finance’s final financial results presentation as a listed company. The company is being acquired by BasePoint under a recommended offer that values the transaction at £2.50 per share, comprising £2.35 per share plus a 15 pence special dividend.

Gerard said all regulatory conditions for the transaction had been met following the final approval on July 3. A court sanction hearing is scheduled for July 31, with the acquisition expected to become effective on Aug. 4 if the process proceeds as planned. BasePoint and its agents would then have 14 days to make payments due under the transaction.

Customer, Lending and Receivables Growth Customer numbers increased 5.4% to 1.743 million in the first half. Thompson said growth reflected demand for both the group’s core lending products and newer products and distribution channels. Provident Europe customer numbers increased 3.7%, with roughly half of the growth organic and half tied to the acquisition of Express Cash in Czechia. Provident Mexico grew its customer base by 4.5%. IPF Digital increased customer numbers by 12.7%, including 26% growth in Mexico and 15% growth in Australia. Lending increased 18.5% at constant exchange rates. Provident Europe lending rose 25%, led by approximately 50% growth in Poland. The Polish performance was supported by a two-year credit card product, under which about 50,000 customers transitioned from the prior one-year product during the first half. Provident Mexico delivered 9% lending growth, which Thompson described as within the group’s preferred range for maintaining operational discipline. IPF Digital lending increased 12%, with growth of 40% in Poland, 14% in Australia, 10% in Mexico and approximately 3% in the more mature Baltic markets. Group receivables increased 17% to £1.17 billion. Provident Europe receivables grew 23% to £649 million, including 42% growth in Czechia and 33% growth in Poland. About £12 million of the Czech receivables growth was attributed to Express Cash. Provident Mexico receivables rose 12% to £210 million, supported by branch expansion and operating execution. IPF Digital receivables increased 10%, led by Poland at 27% and Australia at 18%.