MCL overview

Blood Advances, part of leading hematology journal Blood, also a Journal of the American Society of Hematology, recently published the clinical study result of BTK (Bruton Tyrosine Kinase) inhibitor orelabrutinib in Relapsed or Refractory (r/r) Mantle Cell Lymphoma (MCL) patients. The journal concluded that orelabrutinib showed substantial efficacy and was well tolerated in patients with r/r MCL after long-term follow-up. A total of 106 patients were enrolled in the study. After a median...

Hardman & Co Research Q&A with Mark Thomas on Morses Club plc (MCL): Value-added, customer-driven expansion from core 12-Feb-2020 / 10:30 GMT/BST Hardman & Co Res earch : Value-added, customer-driven expansion from core Morses Club (MCL) is the topic of conversation when Mark Thomas joins DirectorsTalk . Mark explains why he has called his report 'Value-added, customer-driven expansion from core', the importance of company strategy being formulated by customers, what Morses Club is expanding...

Hardman & Co Research Hardman & Co Research: Morses Club Plc (MCL): Value-added, customer-driven expansion from core 15-Jan-2020 / 16:05 GMT/BST Hardman & Co Res earch : Value-added, customer-driven expansion from core MCL's recent results (see our 21 October note, Interim FY'20 results: steady core, deal upside) highlighted the strength of Home Collect (HCC). The division showed operational efficiency improvements, the appropriate use of technology and improving credit. It also generated...

Hardman & Co Research Hardman & Co Research: Morses Club (MCL): Steady, reliable core, growth in new business lines 03-Jun-2019 / 07:15 GMT/BST Hardman & Co Research: Steady, reliable core, growth in new business lines We took two key messages from the FY'19 results announced on 2 May. First, the core business is now in a reliable, steady state with modest organic volume growth. It should, however, generate profit growth from acquisition opportunities and technology-driven efficiency...

Hardman & Co Research Hardman & Co Research: Morses Club (MCL): Home collect and online lending acquisitions 15-March-2019 / 15:20 GMT/BST Hardman & Co Research: Home collect and online lending acquisitions On 26 February, MCL announced the acquisition of the online lender CURO Transatlantic for a consideration of ca.£8.5m. Curo has a net loan book of ca.£10m and 50,000 customers. This deal is strategic in that it transforms the online lending business with a much-enhanced decision engine,...

Hardman & Co Research Hardman & Co Research: Morses Club (MCL): Sustainable growth from focus on quality 23-Oct-2018 / 14:30 GMT/BST Hardman & Co: Sustainable growth from focus on quality The 4 October results confirmed steady growth, controlled risk and delivery in line with expectations. Double-digit underlying revenue and earnings growth was generated from stable customer numbers, and achieved more efficiently with fewer agents. The Provident Financial opportunity is now embedded and...

Hardman & Co Research Hardman & Co Research: Morses Club (MCL): Quality Street 19-Jul-2018 / 16:00 GMT/BST Hardman & Co Research: Quality Street We have repeatedly asserted that providers of Home Collect Credit (HCC) need to understand their customers' thinking in order to lend profitably. Equally, to properly appreciate the risks and rewards that the HCC companies offer investors, we need to understand their corporate culture. In this note, we review MCL's focus on quality, giving practical...

Hardman & Co Research Hardman & Co Research: Morses Club (MCL): FY18: carefully controlled, sustainable growth 16-May-2018 / 16:00 GMT/BST Hardman & Co Research: FY18: carefully controlled, sustainable growth The FY18 results saw adjusted pre-tax profits £1m and statutory profits £2.7m ahead of our expectations. MCL has focused resources on optimising the potential from the market leader's self-inflicted woes and so increased its agent franchise by over 20%, adding high-quality customers. This...