I think there are a number of factors weighing on the SP at the...

I think there are a number of factors weighing on the SP at the moment

1. Bad debts are increasing (slight increase) as % of revenue
2. Uncertainty about under-performing UK
3. Flagged January as traditionally slow with the major revenue source - Personal Loans - but more importantly it is slightly down on last January '?' indicator of growth
4. The ASIC rpeort into pay day lenders
5. The litigation in NSW

Interestingly I can foresee any payday loans implications as a positive for Cash Converters. I base that on potentially forcing out 'shady practices' leaving well run companies such as Cash Converters to pick up the slack. I also doubt the NSW case will be proven at law; however, the press will no doubt make a meal of it 'the hard done by battler etc...'

Overall I'm positive. I think the company is well run, the right decision will be made in the UK, revenues will show steady but sustainable growth and bad debts will be managed according to a strict risk policy.