Higher costs take the shine off Credit Corp's strong revenue growth
29 January 2016 6:53am
Impaired debt buyer and lender Credit Corp was not able to capitalise on strong revenue growth in the six months to December, with higher marketing costs and consumer loan loss provisions eating into the bottom line.
Credit Corp reported revenue of A$112.2 million for the six months to December – an increase of 19.8 per cent over the previous corresponding period.
However, profit rose only 5.5 per cent to $21.2 million and earnings per share rose 4.8 per cent. A number of expense items rose but marketing and loan loss provisions were the main culprits.
Debt ledger...
CCP Price at posting:
$11.33 Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)