It was never going to be a good year for Wonga, after the fake lawyers scandal so it's not surprising that profits have slumped.
According to Sky News, they will be down nearly £35 million compared to the previous year, which includes a £2.6 million compensation package to customers and yet undisclosed sum which will cover legal and regulatory costs, expected to be in the tens of millions
Full story from Sky
Interesting to see they recruited former RSA Insurance Boss, Andy Haste to take over as Chairman to try and steady the ship and give back some credibility. I'll imagine he'll be earning all of that £500k salary!
With the economy starting to recover, super market price wars and peoples cash stretching a little further, maybe we have seen the peak of pay day loans?