I was in a bit of a rush this morning ... my early 2 line post was in the right direction!
I agree with all your points. Some additional ones:
- Australian growth in their core business will be tempered and as in recent past limited by 1/ the aggressiveness of others bidding on debt bundles beyond CCP's valuation and 2/ their size in the market.
- CCP has shown good restraint in the past and the current results once again reflect their capabilities to value, bid and manage these. Therefore, whilst the Aust business may flatten out, I'll back CCP management not to bid too much to grow for the sake of growth.
- Good to see the lending business can give some additional growth to Aust business tho
- But ... there's years of growth ahead of CCP in the USA. CCP talks about the US business getting to the size of the Aust business in the medium term ... but the business in USA could eventually be >10x the Australian business.
I've bought with intentions of being in for the long term. I think with the US business now efficient, profitable and growing, we could be in for decade of double digit growth.
I happy I got half my shares during the CheckMate dip ... but jealous that they weren't even on my radar when SP007 bought!
CCP Price at posting:
$20.58 Sentiment: Buy Disclosure: Held
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