bullish
Cash Converters International - Delivering to brief
SUMMARY
- RaaS has published an update report on consumer finance group Cash Converters International (ASX:CCV) following its September quarter trading update.
- Quarterly revenue grew 0.9% to $95.8m, just 1.4% below our forecast.
- The gross loan book retracted 2% to $273.6m, marginally below our forecast but quality of the loan book improved as evidenced by the net loss rate strengthening to 3.7% from 4.8% on the pcp.
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