CCP credit corp group limited

buying CCP at $9.62, page-14

  1. 4,309 Posts.
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    CCP is the sort of company that I think one should invests in for the long term, so the focus should be on its business performance, plus management guidance. The latter has historically been useful, and it has historically been conservative, with management consistently delivering more than promised.

    The next guidance should be published in late January 2016. Below are historical guidance figures to give one an idea of what management guidance to expect, and what to make of the metrics that management proffers:

    FY2012
    ....................... Initial........... Updated........... Updated....... Guidance...... Actual
    ................... Guidance....... Nov 2011........ Feb 2012...... May 2012.... FY2012
    PDL purch $45m-65m .. $50m-$65m.... $75m-$85m.... $84m-$88m.... $91.5m
    NPAT ..... $21m-$23m .. $23m-$25m.... $25m-$27m.... $26m-$27m.... $26.6m
    EPS (basic) 46c-51c .......... 50c-55c.......... 55c-59c.......... 57c-59c........ 58.4c
    DPS .......... 23c-25c................................................................................. 29.0c
    ROE....................................................................................................... 23.49%

    FY2013
    ...................... Initial......... Updated ...... Updated ......... Updated ........ Actual
    .................. Guidance .... Nov 2012 ….. Dec 2012 ....... May 2013 ..... FY2013
    PDL purch $50-$70m .. $70m-$90m .. $105-$125m .. $125-$130m .. $136.8m
    NPAT* .. $27m-$29m .. $27m-$29m ... $27m-$29m .. $28m-$29m ..... $29.9m
    NPAT reported* ................................... $29m-$31m .. $30m-$31m...... $32.0m
    EPS (basic) 59c-63c ....... 59c-63c ......... 59c-63c .......... 61c-63c ........ 65.2c
    EPS (basic) reported*............................. 63c-67c .......... 65c-67c ........ 69.8c
    DPS .......... 29c-32c ............................................................................... 37.0c
    ROE..................................................................................................... 24.44%

    * NPAT and EPS are underlying NPAT and EPS reported, included a 1-off litigation win of $2m, or 4c per share. Actual win transpired to be 4.6c per share. The update in December was probably because the litigation win became known then.
    The December 2012 Update was confirmed in January 2013.

    FY2014
    ...................... Initial......... Updated ...... Updated ......... Updated ........ Actual
    .................. Guidance .... Nov 2013 ….. Dec 2013 ....... May 2014 ..... FY2014
    PDL purch $70-$90m $110m-$120m $125m-$135m $135m-$140m . $154.6m
    NPAT .... $31m-$33m .. $31m-$33m ...... $33-$35m .... $34M-$35m ... $34.8m
    EPS (basic) 67c-71c ......... 67c-71c .......... 71c-76c .......... 74c-76c ...... 75.4c
    DPS .......... 34c-37c ................................................................................ 40.0c

    FY2015
    ......................... Initial ........ Updated ........ Updated ....... Updated ...... Actual
    ..................... Guidance .... Nov 2014 ....... Jan 2015 ...... April 2015 ... FY2015
    PDL Purch $70m-$90m . $80m-$90m $120 - $130m .$130 - $135m . $155.1m
    Net lendng $40m-$50m . $40m-$50m .. $40m-$50m ..... $40m-$50m . $36.0m
    NPAT ....... $36m-$38m . $36m-$38m .. $36m-$38m ..... $37m-$38m .. $38.4m
    EPS .............. 78c-83c ....... 78c-83c .......... 78c-83c ........... 80c-83c …..... 83c
    DPS ............. 39c-42c .................................................................................. 44c

    FY2016
    .................................. Initial .......... Updated
    .............................. Guidance ....... Nov 2015
    PDL acquisitions $90-$120m ... $125-$145m
    Net lending ....... $30m-$40m ….. $30-$40m
    NPAT ................ $40m-$42m ...... $42-$44m
    EPS ........................ 86c-91c .......... 91-95c
    DPS......................... 44c-46c

    There has been no business performance basis for the usual wobbles that the SP has experienced. Put it down to Mr Market's mood swings.
 
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(20min delay)
Last
$12.94
Change
-0.260(1.97%)
Mkt cap ! $880.7M
Open High Low Value Volume
$12.77 $13.07 $12.74 $3.285M 255.5K

Buyers (Bids)

No. Vol. Price($)
1 843 $12.90
 

Sellers (Offers)

Price($) Vol. No.
$13.00 843 1
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Last trade - 16.15pm 23/06/2025 (20 minute delay) ?
CCP (ASX) Chart
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