No worries
In relation to the home lending business, the Directors stated that until market conditions improve, they didn’t intend growing the loan book from its current level of approx. $230M.
I believe that for every dollar borrowed, FSA currently contributes 5%. So if the loan book increases by $1M, the company ties up a further $50,000. From what I can gather, currently it’s not a good return on investment. They believe in the future that they can get the 5% contribution level down.
I hope that makes sense.
I regret not asking about their mortgage broking activities for Bendigo Bank. I will be better prepared next year.
Two things that I like. All the Directors own script. FSA also increased their marketing expenses by approx. $1M last financial year. For a business that only started 10 years ago with 4 staff, it has certainly been a success story. Watch out for new adds on the tellie.
The Directors and Secretary were very friendly. I was also given a quick guided tour of the business premises.
Unfortunately the share price is heading in the wrong direction for me at the moment.
agm, page-5
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Last
88.5¢ |
Change
0.055(6.63%) |
Mkt cap ! $107.3M | |||
| Open | High | Low | Value | Volume |
| 86.0¢ | 88.5¢ | 86.0¢ | $9.747K | 11.26K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 10095 | 84.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 88.0¢ | 38988 | 1 |
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| Last trade - 12.27pm 05/07/2024 (20 minute delay) ? |
| FSA (ASX) Chart |