Ann: FXL - FY20 financial results briefing, page-212

Originally posted by Harishgarg79

I personally think it will drop on the financial results release next week as NPAT 2020 is looking 15-20% lower than financial year 2019, where average BNPL is more than 20% up, it has only come down not up in the last 5 years, i was very big fan of it until yesterday but I read all the announcements and reports and does not look like it, it is the right company to invest even though PE ratio is good but hardly any growth in it

It is tricky. Different parts of the business are valued differently.
Obviously, we saw a fall in card use. However, the retail sector (in homewares) in NSW has done particularly well over the last few months.
FXL's BNPL is mainly for this target group of people, >30 yr olds with over $1000 spends.

So I guess that the HUMM and Bundll part of the business performed very well in Sydney over the last couple of months.
Melbourne should also provide some boosts with online shopping. I expect that area of the business to outperform in the upcoming report.
Note: Nick Skali orders up 70% YoY, HVN up 20+%, This sector is hot while everyone is at home, and FXL is a significant provider of BNPL for them.