I think the risk in improving the short term profitability is replacing the higher margin Money3/Go Car with AFS business before it reaches a higher scale, especially as the high pricing filters through from interest rate rises.
Having said that with lower expected bad debts in NZ, a net increase in loan book & revenue in H2 & improvements from leading facilities the $25m-$30 NPAT forecast vs $14.6m in H1 (H2 = $10.4m-$15.4m) does not look challenging. I'd expect that range to move to narrow to $28m-$30m around end Jun / start Jul.
All in all the business looks in good shape even if they did mismanage/poorly communicate the impact of rising interest rates last year.
No reason to sell, go position in cycle to accumulate IMO.
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