Toe a degree I agree with your thinking pattern, but only in respect to the relatively near term - say an NPAT of $100.
Growing the PDL business in Australasia would not be easy, because CCP is already so dominant. This means significant growth must come from elsewhere - the USA, Wallet Wizard, for example, but we should not exclude an out-of-left-field initiative.
In the PDL business there are a number of ratios that one can use to create a model that reconciles to NPAT, and one can iterate what would achieve target NPAT values. To mention two:
* CCP has tended to effectively amortise PDLs at 47% of collections.
* Some 30% of collections are for PDLs purchased within twelve months.
CCP Price at posting:
$33.24 Sentiment: Hold Disclosure: Not Held
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