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 Research: 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 double-digit underlying
profit growth, despite a stable market and without compromising the
agent-driven model. In this note, we explore MCL's strategy to expand from
this strong core business. The strategy is driven by extensive customer
surveys, and could see a doubling in both the number of customers and the
share of wallet over the medium term. Investment is being paced to balance
short- and long-term profitability.
Please click on the link below for the full report:
https://www.hardmanandco.com/research/corporate-research/value-added-customer-
driven-expansion-from-core/ [1]
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by clicking on the above link
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954465 15-Jan-2020
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(END) Dow Jones Newswires
January 15, 2020 11:05 ET (16:05 GMT)
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