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Business Description: Cash Converters International (CCV) is a franchised retail network which specializes in the sale of second-hand goods. The core business of CCV is the ownership and franchising of retail and financial services stores, which operate as retailers of second hand goods and suppliers of financial products.
Strategy Analysis: CCV¬īs vision is to turn second-hand goods stores into professional retail outlets. The franchise business is involved in buying and selling second-hand goods for cash. The company franchises its store operation with the national advertising and marketing programs support. The business has recently repositioned itself by significantly changing the look and feel of its stores. This is expected to make the company more appealing and contemporary. With the acquisition of Safrock, Mon-e and 17 corporate stores in four states there have been integration and control issues, which CCV will have to monitor over the next few years.
Cash Converters reported a net profit of $18.43m for the half-year ended 31 December 2012. Revenues from ordinary activities were $134.92m. Diluted EPS was 4.6 cents compared to 3.4 cents last year. Net operating cash flow was $3.2m compared to $1.38m last year. The interim dividend declared was 2 cents compared with 1.75 cents last year.
By Michael McCarthy (chief market strategist, CMC Markets) 19/12/2014 |
Traders and investors caught short heading into the FOMC scrambled for cover in Europe and the US, in many cases driving indices to their best one day performance for 2015.
By Betty Lam (Sales Trader, CMC Markets) 18/12/2014 |
Lead by the Fed-fervour offshore, Australians shares jumped on the Yellen cheer wagon. The material and energy stocks were back in vogue as both sectors gained over 3% in morning trade.
By Michael McCarthy (chief market strategist, CMC Markets) 18/12/2014 |
In spite of a frenzied pre-mortem, a benign statement from the US Federal Reserve‚Äôs Open Market Committee and steadying commodity markets drove investors back into share markets overnight. A calmer, stronger ruble helped offset European growth fears, highlighted in the overnight session by further declines in inflation.
By Betty Lam (Sales Trader, CMC Markets) 11/12/2014 |
Offshore jitters sent ripples through to Australian stocks. The open saw the local equities take 65 points off the index, catalysed by a mass-exit in energy stocks, yet again.
By Ric Spooner (Chief Market Analyst, CMC Markets) 10/12/2014 |
Yesterday‚Äôs news on Greek politics and China‚Äôs bond market came at a time when US and European stock markets have extended rallies and pushed valuations higher. This makes those markets vulnerable to downward corrections as profit takers act to avoid missing out.
BR Securities Australia Pty Ltd 2/12/2014 |
December 2014 could go down as a nasty moment in Australian finance. MYEFO will reveal a deteriorating budget deficit and the UNFCCC meeting in Lima, Peru will provide the agreement, to be ratified in Paris in 2015, on how much (or little) CO2 is to be allowed into the atmosphere from 2020.
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