price slowly showing signs of life, page-9

Thorn has a few business's. The main contributor is Radio Rentals.

Radio Rentals is a retailer as well as finance provider for consumer goods on a lease basis. Thorn has the ability to make a retail margin as well as a finance margin. I like this because Thorn is almost double dipping on each sale. Eg. Radio Rentals sells a couch, recognises retail profit on sale, then recognises interest revenue over life of finance.

Thorn's growth business are:

- Thorn Equipment Finance (Equipment finance for businesses)
- Rent, Drive, Buy (Similar to Radio Rentals model "Rent, Try, Buy" but with Cars)
- Cashfirst (Payday finance. Small loans $2000 to $5000. Similar to Cash Converters)
- NCML (Debt collection. Was a purchased business, has been a poor purchase so far, as most purchased business are. Will have to see if this improves. Only major black mark so far in my opinion)

For the most part, Thorn is about finance and finance management. In my opinion, a couple of key areas to pay attention to is overdue loan repayments and loan defaults. However, through leases, Thorn maintains ownership of any items, so Thorn can repossess the item in the event of default.