This post does not add much to my previous post, but in my continued, but unsuccessful, search for a copy of the FY2008 Annual Report, I learned something that I had not earlier known, and that is that CCP did not retrench collections staff, and in time new recruits became productive. In my search I found bits of turn-around information that I may as well supply here, lest it interest some readers.
For word-count reasons, I deliberately omitted to mention I regard the current CEO as the hero of CCP's turnaround in calendar year 2008 (and its guiding light ever since), so here is information about him. Thomas Beregi, BEc, LLB(Hons), CPA, joined CCP on 3 September 2007 as Chief Financial Officer, and he was appointed Company Secretary on 21 September 2007. Mr Beregi was Interim CEO with effect from 5 March, and CEO with effect from 1 October 2008. Prior to joining CCP, he was the Chief Operating Officer of Jones Lang LaSalle Australia.
At
http://www.aspecthuntley.com.au/asxdata/20091110/pdf/01009241.pdf you can find the Chairman's address of November 2009, which augments the information provided by the FY2009 Financial Results (link provided in previous post). It gives a good picture of the FY2009 recovery. Further, the Media Release of 16 February 2010 strengthens turn-around story.
This historical saga has, I think, now been fustigated (beaten to death with heavy clubs – a word I found years ago when looking for a word that started with FU, and did not end with CK).
(20min delay)