HUM 3.23% 48.0¢ humm group limited

Ann: FXL - Full Year 2020 Trading Update, page-111

  1. 185 Posts.
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    You might need to keep your short buddy. Consumer leasing has ceased but commercial leasing is still a core offering and included in transaction volume as stated in half year 20.

    Commercial and Leasing.
    Cash NPAT of $9.4m in 1H20, up 141%. Key points include:
    • Australia Commercial renewed strategic focus towards
    SMEs leading to an uplift in margins combined with
    broadly similar volumes in 2Q20 against the prior
    comparative period.
    • Risk appetite tightened leading to cessation of equipment
    finance vendor programs. This had the effect of changing
    the portfolio mix to a higher credit quality.
    • Consumer Leasing ceased and in book run-off which led
    to reduced volumes as well as lower expenses.

    • New Zealand Commercial volumes up and net losses/
    ANR has reduced, reflecting the improved credit quality of
    the portfolio.
 
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