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.
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85.0¢ |
Change
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Mkt cap ! $103.1M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 4450 | 85.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
89.0¢ | 171050 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 4450 | 0.850 |
1 | 4000 | 0.840 |
2 | 54096 | 0.830 |
1 | 1243 | 0.805 |
1 | 1315 | 0.760 |
Price($) | Vol. | No. |
---|---|---|
0.890 | 171050 | 2 |
0.900 | 50408 | 2 |
0.910 | 674 | 1 |
0.925 | 12551 | 1 |
0.970 | 6000 | 1 |
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