Credit Corp Group (ASX: CCP) expects NPAT of AUD 80-90M in FY24

Mon 06 May 24, 07:35 AM | Team Kalkine

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Highlights

Credit Corp Group is a debt purchasing, collection and consumer lending company

In 1HFY24, revenue increased by 16% YoY to AUD 255 million and consumer lending book grew by 16% YoY to AUD 414 million

Bennelong Australian Equity Partners Pty. Ltd. has the maximum stake in CCP with a shareholding of 14.03%

Credit Corp Group Limited (ASX: CCP) is an ASX-listed financial services company which is engaged in debt purchasing, collection and consumer lending. The Australia-based firm has presence across New Zealand, Australia and the USA markets.

In the first half of the financial year 2024 (1HFY24), the company recorded 16% YoY rise in the total revenue to AUD 255 million, backed by a surge in debt buying in New Zealand and Australia and higher lending in the same region. During the six-month period ended 31 December 2023, consumer lending book of CCP jumped 16% YoY to AUD 414 million and net profit after tax (NPAT) pre-impairment increased to AUD 33.5 million.

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