A bad sign for bad debts!
Ive gone back and reworked bad debts as a % of TTV for zip ANZ for each Q from June 2019 to most recent update. It looked like zip was keeping a handle on these until last 2 updates.
FY 2019
4th Q - 0.98%
FY 2020
1st Q - 1.02%
2nd Q - 1.05%
3rd Q - 1.12%
4th Q 1.22%
FY 2021
1st Q - 1.21%
2nd Q - 1.05%
3rd Q - 0.97%
4th Q - 1.01%
FY 2022
1st Q - 1.24%
2nd Q 1.57%
(figures are estimates only using Q updates figures)
Even worse is although arrears went down slightly this Q (1.87% to 1.64%) it should be noted arrears for the same Q's the year before were 0.91 & 0.95.. I can only assume from that bad debts will grow even more rapidly while seasonal receivables will grow at a much slower pace causing bad debts as a % of receivables to increase further
IMO.
not financial advice.. do your own research.
Bad debts - why so high?, page-55
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