bullish
Cash Converters International - Delivering to the brief
SUMMARY
- RaaS has published an update report on consumer finance group Cash Converters International (ASX:CCV) following its FY24 trading update which saw revenue up 26% to $382.6m and the gross loan book up 6% to $288m.
- The update provided a revenue and loan book position broadly in line with our forecasts, and although no earnings guidance was provided, management stated “operating profit is not expected to differ materially from the prior period”.
- This is slightly ahead of our expectation and a strong result given the year of transition.
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