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The latest update is out from Credit Corp Group Limited ( (AU:CCP) ).
Credit Corp Group Limited reported a strong performance in the first half of FY2025, with a 32% increase in net profit after tax, driven by a significant rise in consumer lending earnings. The company witnessed a 12% growth in US collections and a 5% increase in its consumer lending book. Despite challenges such as reduced investment and stable collection conditions, the operational improvements in the US have set the stage for potential future investments. Credit Corp plans to expand its purchasing pipeline in the coming months and expects a total outlay of $150 million in the US for credit card charge-offs. The introduction of the Wizit digital credit card is anticipated to address a broader market, while the Australian and New Zealand debt buying segment has shown stabilization.
More about Credit Corp Group Limited
Credit Corp Group Limited operates in the financial services industry, focusing on debt collection and consumer lending. It is known for its services in purchasing and recovering charged-off consumer debts and providing unsecured consumer loans, with a significant market presence in Australia, New Zealand, and the United States.
YTD Price Performance: 9.57%
Average Trading Volume: 10
Technical Sentiment Consensus Rating: Sell
Current Market Cap: €706.6M
Find detailed analytics on CCP stock on TipRanks’ Stock Analysis page.
