Last year was a tough year for QFE . Their business was disrupted by Govt payments towards companies. This quarter, AU lending has grown after a long gap.
The company must be considered into two parts, AU and US business.
US business is being made less resource intensive. They are onboarding ISO to do business on their behalf and they even let go of some staff to reduce cost. ISOs will start generating revenue in 9-12 months. Meanwhile, their paynow transactions in US is up. So things seem to be falling in place.
AU business has received some focus lately with partnerships being announced with Xero and Jim's. Hopefully, these partnerships do well unlike splitit which has not shown much traction.
Since the time the new CEO has joined, he has been proactive with communications. Love the monthly updates and I just wish that QFE had kept their slidedeck consistent so that it is easy to compare. Maybe they want to show only the good numbers and leave out the ones that are not great.
Anyways, I am buyer in QFE.
QFE Price at posting:
16.5¢ Sentiment: Buy Disclosure: Held
