If you look beyond the accounting issues and subsequent debt dramas, they've actually done rather well. Much of the competition is gone, and they seem to be purchasing at a good price. And they're going through an upgrade cycle
The imminent debt refinance is big.
At 25% of PDPs collected per year (1H24 exceeded this), 40% employee cost to collections (1H24 lower than this), 9% finance rate and similar "Other"expenses", they're on about 14-15m PBT by my calculations.
i see no reason for a rerate once refi is done.
If you look beyond the accounting issues and subsequent debt...
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Last
51.0¢ |
Change
-0.015(2.86%) |
Mkt cap ! $68.83M | |||
| Open | High | Low | Value | Volume |
| 52.0¢ | 52.0¢ | 51.0¢ | $42.61K | 82.93K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 21577 | 51.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 51.5¢ | 9030 | 1 |
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| Last trade - 16.10pm 22/07/2024 (20 minute delay) ? |
| PNC (ASX) Chart |