Amigo Holdings Business Overview and Operations

Amigo Holdings is a UK-based consumer credit lender that offers high-cost credit to individuals who may not qualify for traditional credit. The company was founded in 2011 by Adam Tyson.

Amigo Loans, the flagship product of Amigo Holdings, is a type of guarantor loan that requires a borrower to have a guarantor who takes on the responsibility of repaying the loan if the borrower defaults. This unique approach sets Amigo Loans apart from other lenders.

Amigo Holdings operates primarily through its website and a network of brokers and partners. The company has a strong online presence, with a user-friendly website that allows customers to apply for loans and manage their accounts online.

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Amigo Holdings operates its lending business through a network of third-party loan servicers, which are responsible for managing the loan portfolio and collecting repayments from customers.

The company's loan servicing model has been designed to be efficient and cost-effective, allowing Amigo Holdings to maintain a large loan book while keeping costs under control.

Amigo Holdings has a strong focus on customer service, with a dedicated team working to resolve any issues or complaints that may arise, ensuring that customers receive the support they need throughout their loan journey.

Sales geography is a crucial aspect of Amigo Holdings PLC's operations. The company's sales have been geographically diverse, with a significant presence in the United Kingdom.

The UK has been Amigo Holdings PLC's largest market, with sales of 294 million in 2020, decreasing to 171 million in 2021 and further to 88.6 million in 2022. Sales in the UK continued to decline, reaching 19.2 million in 2023 and 3.5 million in 2024.

Amigo Holdings PLC's sales in Ireland are relatively small, with 900,000 reported in 2022. The company has also reported sales in other regions, including 100,000 in 2023.

Here's a breakdown of Amigo Holdings PLC's sales geography over the years:

Amigo Holdings PLC has a few notable group companies. Amigo Luxembourg SA is one of them, providing financial services from its location in Luxembourg.

These group companies are categorized as Financial Conglomerates. Amigo Management Services Ltd. is another group company, offering financial intermediation services from its base in Bournemouth, UK.

The CEO of Amigo Management Services Ltd. is Hamish Stewart Paton, who has been in the role since 2019. This adds a layer of stability and continuity to the company's operations.

Here's a quick rundown of the group companies mentioned:

Amigo Holdings has a diverse leadership team, with a mix of seasoned professionals and newer additions.

Kerry Penfold serves as the CEO, a role he took on in December 2023. He brings a wealth of experience to the position.

The team also includes Emma Stirland, who serves as a Corporate Officer/Principal, a position she's held since August 2021. Her specific age is not publicly disclosed.

Nicholas Beal, on the other hand, has been with the company since January 2016, serving as the Compliance Officer. He's 54 years old, which suggests he's had a long and successful career in the field.

The Board Composition of Amigo Holdings PLC is made up of four experienced directors, each bringing their unique perspectives to the table. The Chairman of the Board is Jonathan Roe, a 70-year-old who has been in the role since October 2020.

Michael Bartholomeusz, a 67-year-old, serves as a Director/Board Member, having joined the board in November 2020. Kerry Penfold, on the other hand, is a younger member of the board, a 48-year-old who joined in September 2022.

The oldest member of the board is James Allan McColl, a 73-year-old who is also a Director/Board Member, although his tenure is relatively short, having joined the board in August 2024.

Here is a brief overview of the Board Composition:

The Executive Committee is a crucial part of any organization, and Amigo Holdings PLC is no exception. Kerry Penfold is the CEO, taking on the role since December 30, 2023, at the age of 48.

One of the key roles in the Executive Committee is the Compliance Officer, which is currently held by Nicholas Beal. He's been in this position since January 31, 2016, at the age of 54.

The Human Resources Officer, Lucie Baraclough, has been with the company since June 30, 2022, but her age is not publicly disclosed. Emma Stirland, on the other hand, is the Corporate Officer/Principal, and she's been in this role since August 31, 2021.

Amigo Holdings PLC expects to issue its financial results for the year to 31 March 2024 tomorrow.

The results will be published after 07:00 (BST) through the regulatory news service (RNS) and on the company's website.

Amigo will be hosting a presentation for investors at 13:00 (BST) tomorrow.

The person responsible for this announcement is Nick Beal, Company Secretary.

Amigo is a public limited company registered in England and Wales with registered number 10024479.

The Amigo Shares are listed on the Official List of the London Stock Exchange.

Amigo has ceased offering new loans, with immediate effect, and is in the process of an orderly solvent wind-down of the business.

Amigo's back book of loans is being run off with all net proceeds due to creditors under a Court-approved Scheme of Arrangement.

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Amigo Holdings offers a range of services designed to support its customers.

The company provides a revolving credit product, which allows customers to borrow money and repay it in instalments.

This service is tailored to meet the needs of people who may not qualify for traditional credit products.

Amigo Holdings also offers a range of other services, including instalment plans and repayment support.

These services are designed to help customers manage their finances and stay on top of their repayments.

The company's services are available to customers across the UK, with a focus on providing support to those who need it most.