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6.8¢ collection house limited

Ann: CLH Reports First Half Results 1H18, page-11

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kordzik

34 Posts.

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01/03/18

11:24

Post #: 31444669
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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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Sure, I agree and hence I'm happy to hold it too I was just referring to why market might not see it that way. I think CLH is still in suffering from pretty strong negative sentiment after the trouble in the recent years and I'm guessing many people don't look past the headline numbers - which don't look too exciting unless you dig a bit deeper and understand the business.

CLH Price at posting: $1.31 Sentiment: Hold Disclosure: Held
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