It's quite clear after a read this morning that they are saying that PDL investment was lower in this and the previous half yet they still achieved collection growth of 5%. They have upgraded the level of PDL investment previously flagged to the market in the order of 10 to 20 million but will still be slightly below that of last full year.
Seeing as their US operations grew at 70% and continues to grow strongly, and Wallet Wizard seems to be firing as well I would think that the result was better than they had previously flagged. I re-read previous announcements and there were no surprises yesterday. It was a solid result.
Ann: Credit Corp Group H1 of 2018 Results Presentation, page-13
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