Hi Thunderhead1, Thanks a lot for the suggestions. The...

Hi Thunderhead1,

Thanks a lot for the suggestions. The equivalent data for three companies are:

	Column 1	Column 2	Column 3	Column 4	Column 5	Column 6
0	Code	Co Name	MKT Cap ($M)	2017 PE	Average 3yr Growth	Div Yield (fcst)
1	CCP	Credit Corp Group Ltd	780​	13.4​	31.0%​	3.8%​
2	PNC	Pioneer Credit	97​	8.2​	20.7%​	6.1%​
3	FXL	FlexiGroup Ltd	905​	9.7​	-4.7%​	5.8%​
4	TGA	Thorn Group Ltd	227​	6.8​	2.1%​	8.3%​

Pioneer Credit is a growing credit collections company, which I had not considered previously. Given the high revenue and profit growth, low PE and high dividend yield there is a lot to like here. This company reinforces my view that size really does affect valuation.

FlexiGroup Ltd is a diversified financial services group. Although this company offers a high dividend and has a higher market cap than CCP, it has not generated much, if any, profit growth over the last six years and it doesn't look as if this will change in the near future. This reinforces my view that profit growth is a key to valuation.

Thorn Group is an operator in the household good rental market. The lack of earnings growth appears to be the key factor impacting on the PE and keeping the PE low.

K