In the quarterly, the lack of 'NPAT' wording felt like they were withholding information about a loss making quarter. But apparently it was profitable.
Should mean an accumulation of cash for the quarter: for reducing debt, or putting towards capital requirements for warehouse facilities etc.
Each quarter likely builds up the safety of the company - accumulate cash, gradually rising credit scores, rising secured proportion, rolling off high-risk loans. As long as there's not some big mistake in the process, like secured loans causing losses to reduce 1% but interest income to reduce 2%.
HY will definitely be interesting, to see where the cash is being directed to.
MME Price at posting:
4.9¢ Sentiment: Buy Disclosure: Held
