News

Credit Corp Group Limited reports the following highlights for the first half of the 2023 fiscal year:

•        32% growth in the consumer loan book to $331 million
•        On track for record full year consumer lending segment earnings
•        Continued recovery in charge-off volumes producing strong US investment
•        Significant step-up in US resourcing to meet the opportunity

First half net profit after tax (NPAT) fell by 30 per cent over the prior corresponding period to $31.8 million. This was due to:

•        up-front loss provisioning and marketing expense from rapid loan book growth;
•        costs arising from increased US resourcing; and
•        run-off in the core AU/NZ debt buying segment.

Earnings are expected to recover strongly over the second half of the fiscal year, primarily driven by a record consumer lending segment result. The Company remains on track for a full year NPAT within the previously advised guidance range of $90-$97 million.

Read the full Media Release |  View the Video presentation |  View the full presentation | View the H1 FY23 Financials