- 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.
- Delivered $8m interest savings, approx. - Increased PDL...
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51.0¢ |
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Mkt cap ! $68.83M | |||
| Open | High | Low | Value | Volume |
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