CREDIT CORP GROUP LIMITED (CCP)



Welcome to InvestSMART

You are currently viewing our site as a guest, which gives you limited access to our site features. By signing up for a free membership, you will receive our Investment Opportunity newsletters and have access to additional features for finding and comparing managed funds and shares. Registration is fast and simple, so please:

Sign Up Today Ľ it's FREE! Already a member? Login now!


General Information
Company Name: Credit Corp Group Limited
Stock Code: CCP
Website: www.creditcorp.com.au
GICS Sub-Industry: Diversified Support Services
Market Cap ($M): 411
Equiv. Shares (M): 46

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
 $ 8.950 $ 8.880 $ 8.960 $ 8.880 $ 8.920 41,472 $ 0.030  0.336 %

Current Broker Consensus Recommendation more
Recommendation: Hold
Recommendation Date: 31st Jan 2014
12 Month Target Price (average): $9.55
Brokers Surveyed: 1

Company Overview

Business Description:
Credit Corp Group Limited (CCP) is an Australian 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. CCP has a recent expansion to USA.

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.


Financial Summary
Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2013  A 32.0 69.8 19.5 11.4 37.0 4.6 100.0
2012  A 26.6 58.4 24.5 8.3 29.0 6.0 100.0
2011  A 21.0 46.9 54.8 8.8 20.0 4.9 100.0
Source: Morningstar analyst estimates.

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2011 A 2012 F 2013 F 2011 A 2012 F 2013 F 2011 A 2012 F 2013 F
Credit Corp Group (CCP) $409 M 0.1939 0.0972 0.1421 12.7150 11.5887 10.1464 0.0417 0.0451 0.0485
Veda Group (VED) $1,911 M -- -- 0.1728 -- 29.7120 25.3348 0.0000 0.0088 0.0190

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth P/S Ratio
CCP 0.57 11.9 2.93 0.99 2.87
Market 1.07 15.9 1.26 1.99 1.71
Sector 0.91 12.8 1.27 2.59 0.66

Directors
Name Position Start Date
Mr Richard J Thomas Non-Executive Director 22 September 2006
Mr Simon Calleia Non-Executive Director 05 May 2000
Mr Robert Fitz-Gerald Shaw Non-Executive Director 31 March 2008
Mr Eric Dodd Non-Executive Director 01 July 2009
Ms Leslie Martin Non-Executive Director 20 March 2014
Donald Evan McLay Non-Executive Director,Non-Executive Chairman 31 March 2008

Management
Name Position
Michael Eadie Chief Financial Officer
Michael Eadie Chief Financial Officer,Company Secretary
Matthew Angell Chief Operating Officer
Geoffrey Templeton Company Secretary
Thomas Beregi Company Secretary,Chief Executive Officer, Chief Financial Officer
Kristina White Head of Business Services

Substantial Shareholders
Holding Name
2,985,731 (6.50%) Vinva Investment Management
2,351,062 (5.12%) Georgia Division Of Investment Services
5,984,674 (13.03%) Denver Investment Advisors LLC

Calendar of Events
Date Event
29 January 2015 Report (Interim)
29 September 2014 Report (Annual)
05 August 2014 Report (Annual)
05 August 2014 Report (Prelim)
© 2011 Morningstar, Inc. All rights reserved. The data and content contained herein are not guaranteed to be accurate, complete or timely. Neither Morningstar, nor its affiliates nor their content providers will have any liability for use or distribution of any of this information. To the extent that any of the content above constitutes advice, it is general advice that has been prepared by Morningstar Australasia Pty Ltd ABN: 95 090 665 544, AFSL: 240892 (a subsidiary of Morningstar, Inc.), without reference to your objectives, financial situation or needs. Before acting on any advice, you should consider the appropriateness of the advice and we recommend you obtain financial, legal and taxation advice before making any financial investment decision. If applicable investors should obtain the relevant product disclosure statement and consider it before making any decision to invest. Some material is copyright and published under licence from ASX Operations Pty Limited ACN 004 523 782 ("ASXO"). DISCLOSURE: Employees may have an interest in the securities discussed in this report. Please refer to our Financial Services Guide (FSG) for more information at www.morningstar.com.au/fsg.asp.

Advertisement

Trade Shares Online from $19.95^
Free Guides

The SMH Guide to Investing and Trading in US Shares

An educational booklet that shows how to use international share trading to diversify your investments.

More details...

News

Billionaires bankroll Ten's new direction Media Network sees digital future

The Age 19/12/2013 | Ten Network's programming ambitions will be funded by a $200 million loan guaranteed by three of its billionaire owners, as the free-to-air broadcaster declared digital was the future and pointed to early signs that its switch to an older market demographic was working.

Elders alleges $24m fraud in live cattle division

The Age 19/12/2013 | Troubled rural services group Elders is threatening to call in the police over an alleged $24 million fraud by a "handful of individuals" in its live cattle exports division.

Bega Cheese holds back in three-way bidding war for WCB

The Age 19/12/2013 | Bega Cheese began the battle for Warrnambool Cheese & Butter but three months on it appears to be the first casualty of the bidding war.

Aussie hampers transition

The Age 19/12/2013 | A persistently high Australian dollar is thwarting the Reserve Bank's efforts to ease the transition of the economy away from mining.

RBA keeps its focus on lower dollar

The Age 19/12/2013 | The Reserve Bank is keeping the door open to further interest rate cuts, but believes the "significant amount" of monetary policy easing over the past two years is already stimulating growth.

Pact's struggles weigh down Orora

The Age 19/12/2013 | The underwhelming sharemarket debut of packaging company Pact Group Holdings has weighed on the demerger of Amcor and its $2 billion Australasian packaging and distribution business Orora.

More...


Sponsored Links

Feedback Form