CCP is a specialist purchaser and manager of debt ledgers, acquiring them from a variety of preferred financial institutions and credit providers. The business grew rapidly over the past few years as credit providers moved to divest delinquent loans off balance sheet earlier in the recovery cycle. Debt was used to fund aggressive investment in ledgers coming available. However rapid growth was mismanaged leading to several significant profit downgrades. Any investment in the stock is highly speculative with the likelihood of a turnaround low, at least in the near term. Conservative investors should stay away
Straight from CBA
Just sold out of CCP
Try PNC..... they are a similar company with a much better structure & results
CCP Price at posting:
$9.35 Sentiment: Sell Disclosure: Not Held
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