Adjusted pretax profit expected at £25 million

  • Vanquis Banking narrows 2023 adjusted pretax profit view
  • Expects profit toward lower end of previously guided range
  • Adjusted pretax profit seen at £25 million
  • Guided range was between £25 million and £30 million
  • 2022 adjusted pretax profit was £126.6 million
  • Business performance in line with management expectations

Vanquis Banking Group has revised its 2023 adjusted pretax profit outlook, expecting it to be towards the lower end of the previously guided range. The company now anticipates a profit of £25 million, compared to the initial guidance of £25 million to £30 million. This adjustment comes after reporting an adjusted pretax profit of £126.6 million in 2022. Despite the revision, the business has performed in line with management expectations since its October update.

Public Companies: Vanquis Banking Group (N/A)
Private Companies:
Key People:

Factuality Level: 8
Justification: The article provides specific information about Vanquis Banking Group’s adjusted pretax profit for 2023, including the expected amount and how it compares to previous guidance and the previous year’s profit. The information is straightforward and does not contain any obvious bias or opinion. However, the article is short and lacks additional context or analysis, which could affect its overall factuality level.

Noise Level: 7
Justification: The article provides relevant information about Vanquis Banking Group’s adjusted pretax profit for 2023, including the expected range and comparison with previous years. However, it lacks in-depth analysis, evidence, or actionable insights. The article stays on topic and does not dive into unrelated territories, but it could benefit from providing more context or discussing the implications of the profit decrease.

Financial Relevance: Yes
Financial Markets Impacted: Vanquis Banking Group

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article pertains to the financial performance of Vanquis Banking Group, a U.K. consumer-finance company. It provides information about the company’s adjusted pretax profit for 2023, which is expected to be toward the lower end of the previously guided range. There is no mention of an extreme event or its impact.

Reported publicly: www.marketwatch.com