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6.8¢ collection house limited

Ann: CLH Reports First Half Results 1H18, page-10

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Dharm88

160 Posts.

16

01/03/18

08:55

Post #: 31437568
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Originally posted by hilly_sandman ↑

@kordzik IMO the market is not realising the medium term (2-5yr) effects of a slow down in PDL purchasing... The headline numbers are 100% flat, so anyone that does not fully understand how CLH make their money would think these numbers are average...

For those that understand that EBITDA is flat on falling PDL purchases - these number are strong. The uptick in PDL purchasing could result in a substantial increase in EBITDA in the next 2yrs, particularly if they can continue to drive up the collection rate.

And from a supply vs. demand front - surely if the banks are flooding the collection businesses they will be paying less comparably for PDL in the coming year??? I am not sure on this, but a possibility.

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similar to how I feel.

I think Anthony has done a good job so far and has been quite honest with the market. I also like the statement on the presentation that he plans on feeding more news to the market through 2H18.

CLH Price at posting: $1.26 Sentiment: Buy Disclosure: Held
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0 Great analysis

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