Credit Corp reports solid result
Wednesday, 31 Jan 2024
Credit Corp Group Limited (Credit Corp or the Company) reports the following highlights for the first half of the 2024 fiscal year (H1 of FY24):
- Continued US operational improvement
- 16% growth in the consumer loan book to a record gross closing balance of $414 million
- Tripling in consumer lending Net Profit after Tax (NPAT) over the prior comparative period (pcp)
Statutory NPAT for the half year was a loss of $12.1 million. This reflects the previously announced impairment of the Company’s US Purchased Debt Ledger (PDL) book. Excluding the $45.6 million impact on NPAT of this charge, underlying NPAT for the period was 5 per cent higher than the prior comparative period (pcp) at $33.5 million.
2023 Annual General Meeting Results
Tuesday, 24 Oct 2023
Credit Corp’s AGM was held today in Sydney at 10:30am AEDT. Shareholders had the opportunity to participate in the AGM by attending in person, or watching the meeting with a live webcast.
The 2023 Annual General Meeting Results can be viewed here.
Retirement of Non-Executive Director
Friday, 22 Sep 2023
The Board of Credit Corp Group Limited (Credit Corp) announces that Ms Leslie Martin will retire as a Non-Executive Director at the conclusion of Credit Corp’s upcoming Annual General Meeting on 24th October 2023.
Mr Eric Dodd, Credit Corp Chair, noted that Leslie had served on the Board of Credit Corp for over nine years during which time the organically developed consumer lending and US debt buying activities had significantly grown to now comprise the majority of Credit Corp’s earnings.
“Leslie’s international and domestic banking experience and strategic leadership have been invaluable to the development of Credit Corp. On behalf of the Board I thank Leslie for her significant contribution and wish her well in her retirement,” he said.
Credit Corp reports solid FY2023 result
Tuesday, 01 Aug 2023
Credit Corp Group Limited reports the following highlights for the 2023 fiscal year:
70% growth in lending segment net profit after tax (NPAT)
43% growth in the consumer loan book to a record gross closing balance of $358 million
Recovery in US operational performance over the second half
Solid FY2024 US investment pipeline secured in improved pricing conditions
NPAT fell by 5 per cent over the prior year to $91.3 million. While lending segment earnings grew strongly, the impact was offset by continued run-off in the core AU/NZ debt buying business and costs arising from increased US resourcing.
Investor presentation - Market Update 4 May 2023
Thursday, 04 May 2023
Credit Corp Group Limited CEO, Thomas Beregi, provided a market update to investors on 4 May, highlighting Q3 2023 performance.
View the Investor Presentation: Market Update