News

Credit Corp Group Limited reports the following highlights for the 2024 fiscal year:

• 18% growth in lending segment net profit after tax (NPAT)
• 24% growth in the consumer loan book to a record gross closing balance of $445 million
• Improved US operational performance over the final quarter of FY2024
• Strong FY2025 US investment pipeline secured

Underlying NPAT¹ fell by 11 per cent over the prior year to $81.2 million. While lending segment earnings grew strongly, the impact was offset by continued run-off in the core AU/NZ debt buying business and degraded US collection conditions.

The outlook for the year ahead is for a return to growth. A record starting consumer lending loan book, US operational improvement and a stabilised AU/NZ debt buying business will produce FY2025 NPAT of $90-100 million. At the midpoint of the range this is an increase of 17 per cent relative to FY2024.

¹ Underlying NPAT after adding back $45.6 million (after tax) for the US purchased debt ledger (PDL) impairment reported in H1 FY2024 and subtracting $15.1 million (after tax) for the change in estimated PDL collection life from six to eight years to the statutory NPAT of $50.7 million.

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