Non-Standard Finance set to get a lift from rival provident Financial's woes

Sub-prime lender Non-Standard Finance is expected to detail how it has been boosted by the troubles which ravaged its closest rival last summer when it posts annual results on Tuesday.
Non-Standard Finance (NSF) offers credit to the estimated 10m people who are turned away by mainstream lenders. It operates through a network of branches, “doorstep agents” who call on clients’ homes and also has a division offering loans which are guaranteed by people close to the borrower.
Analysts are expecting main-market listed NSF to report pre-tax profit of ?16.6m for 2017, up from ?10.3m last time round, according to Bloomberg.
The stronger performance is expected to have been driven by troubles at rival Provident Financial, whose shares collapsed from a high of 3200p to below 600p last summer.
Non-Standard Finance set to get a lift from rival provident Financial's woes

Provident Financial issued a series of profit warnings, causing its share to collapse as it was shaken by a series of problems
The share price plunge - which saw ?1.7bn wiped off Provident’s value in one day - came after a botched attempt to overhaul the business resulted in droves of staff leaving. Provident was also ordered to pay ?169m in compensation to customers for mis-selling a repayment plan and faces further costs from another investigation.
NSF is led by John van Kuffeler, who is understood to have overseen the recruitment of 550 former Provident staff over the past year.
Mr van Kuffeler had a 23-year career at Provident - six as chief executive and 17 as chairman - until his retirement in 2013, building the business into one which joined the FTSE 100 in 2015, before crashing out of the blue-chip index as a result of its problems last year.
In a January trading update, NSF said its loan book had grown by 30pc to ?248m, while keeping impairments below the 20pc level reported last year. Investors will be looking to see if it can maintain this control while growing its customer base.
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