The ITSA released the quarterly bankruptcy figures for the October 2011 to December 2011 period earlier today.
The number of people entering into debt agreements for the quarter was 2,031 compared to 2,224 for the first quarter of the financial year. While there has been a drop, it is worth noting that the October to December quarter is traditionally lower than the other quarters. I guess it’s never a good look making somebody insolvent before xmas.
When comparing the October to December 2011 quarter against previous October to December quarters, the current quarter is in fact a record quarter.
Provided FSA has continued to hold its market share in debt agreements, which has been consistent over the last few years, there should be some good news announced when the half yearly results are released in February.
I also like the way the buy back is being managed. Nice and slow.
FSA Price at posting:
27.5¢ Sentiment: ST Buy Disclosure: Held
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