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Business Description: Credit Corp Group Limited (CCP) is a receivables management company, specialising in debt purchase and debt collection services, primarily focusing on the acquisition of purchased debt ledgers (PDLs) comprised of distressed consumer debt from Australian and New Zealand banks, finance companies, and telecommunication companies.
Strategy Analysis: CCP has implemented a number of initiatives to improve performance. Competitive advantage comes through the strong relationships with domestic credit providers, and a large database of debtors which improves the analysis needed in tender pricing ledgers. CFO Todd Vogel resigned on 14 September 2010. Management has announced their intention of expanding collections in 2011, together with continued in-house technological innovation to improve collection effectiveness and efficiency.
Credit Corp Group reported NPAT up 28% to $16.72m for the half-year ended 31 December 2012. Revenues from ordinary activities were $71.73m, up 12% from the same period last year. Diluted EPS was 36.5 cents compared to 28.7 cents last year. The net operating cash inflow was $78.37m compared to an inflow of $65.6m in the pcp. The interim dividend declared was 20 cents compared with 13 cents last year.
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The Age 18/05/2013 |
As Australia's major retailers increase their online sales channels, pouring millions into their websites, they could face new competition from China's booming e-commerce industry.
The Age 18/05/2013 |
Most of those who take a political approach to the budget assume that if it's in deficit, the way you get it back to surplus is to cut government spending or, if you're a really bad person, increase taxes. They forget it's the budget itself that's supposed to do the heavy lifting.
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