"Management advised their intention to retract from SACC loans will not be material to its FY16 revenue and that it will continue to offer loans above $2000 and longer than 12 months. More positively, the company reaffirmed its FY16 guidance for NPAT of between $40 to $42 million - implying earnings per share of 86 to 91 cents. Based on historical performance, we are still inclined to believe the company is likely to achieve the higher end of this range, representing a growth of circa 10%. We remain comfortable with our coverage of Credit Corp and retain coverage of the company as a Star Growth Stock. Our Lincoln Valuation remains unchanged at $11.96."
CCP Price at posting:
$9.34 Sentiment: Buy Disclosure: Held
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