Credit Intelligence Ltd Faces Sharp Revenue Decline

Credit Intelligence Ltd (AU:CI1) has released an update.

Credit Intelligence Ltd reported a significant decrease in revenue, down 33% from the previous year, and a net loss increase of 118% for the fiscal year ended June 30, 2024. This downturn was attributed to a substantial decline in credit financing and interest income, particularly from their Singaporean subsidiary, as well as increased expenses and impairment losses on intangible assets. The company also noted the disposal of equity interest in ICS Funding Ptd. Ltd. and the discontinuation of HKBNPL Investments Limited.

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