- Delivered $8m interest savings, approx.
- Increased PDL investment
- Profitable in FY24
Agreed they were wrong on timing.
As for profit in FY22 - the magnitude of what they were hit by (due to valuation methodology of PDLs) was massive. I did not expect the company to survive at all. Took a long time, but they've recovered.
From here... profitability is dependent on scale. They've hit a profitable point and just improved on it as a result of cheaper funding (should see $10m PBT in FY25 by my numbers). It should improve further as PDLs become more readily available.
As for FY26 - agree, they can hit it with recognition of deferred tax assets.
The macro environment is favorable to remaining buyers of PDPs. Effectively 2 buyers left in the bank space.
News: PNC Pioneer Credit Closes A$272.5M Senior Finance Facility, page-12
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Last
51.5¢ |
Change
-0.010(1.90%) |
Mkt cap ! $75.32M | |||
| Open | High | Low | Value | Volume |
| 53.0¢ | 53.0¢ | 51.5¢ | $109.0K | 208.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 49999 | 51.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 52.0¢ | 66930 | 1 |
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| Last trade - 16.10pm 02/10/2024 (20 minute delay) ? |
| PNC (ASX) Chart |