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E D I T E D V E R S I O N
AMGO.L - Amigo Holdings PLC
Full Year 2022 Amigo Holdings PLC Earning Call Investor video
Jul 08, 2022 / 09:00AM GMT
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Presentation
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Unidentified Company Representative, [1]
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Well, it's very pleasing that Amigo has been able to report a profit this year, having made 2 years of losses and a significant loss last year. But what I'd like people to understand is that the profit has come about almost all of it purely from the release of the complaints provision that we recorded last year. In parallel with that, we have replaced the complaints provision in part with the scheme provision. So balance adjustments and cash redress will be significant over the next year or so. So looking at the balance sheet, Amigo has now got a positive net asset position as a result of that profit.
But virtually, all of that money that is showing on the net assets today will be used
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