A key business metric has been the size of the loan book. The short term goal is to get to $1b.
This loan book growth trend hasn’t been converted into profit growth or growth in the share price.
Solvar had a great opportunity to add significant value for shareholders but didn’t hedge the debt book and lock in the lower interest rates in using interest rate swaps. When interest rates rose the cost of interest significantly increased but the interest received from customers was locked in at the lower rates.
This was an oversite by the Board and management teams.
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