• Australian (ASX) Stock Market Forum

Hello and welcome to Aussie Stock Forums!

To gain full access you must register. Registration is free and takes only a few seconds to complete.

Already a member? Log in here.

CCV - Cash Converters

Discussion in 'Stocks 0-H' started by Trader Paul, Jan 6, 2008.

  1. bigdog

    bigdog Retired

    Posts:
    5,446
    Likes Received:
    714
    Joined:
    Jul 19, 2006
    http://www.4-traders.com/CASH-CONVERTERS-INTERNATI-6496551/news/Cash-Converters-International-Ltd-Revenue-growth-of-16-4-to-$272-7-million-17207616/

    Cash Converters International Ltd : Revenue growth of 16.4% to $272.7 million
    08/21/2013 | 10:24pm US/Eastern

    Revenue growth of 16.4% to $272.7 million

    Chairman and Managing Director's Review


    The directors of Cash Converters International Limited ('Cash Converters') are pleased to report a growth in revenue of 16.4% to $272.7 million and a record earnings before interest tax, depreciation and amortisation (EBITDA) result of $57.0 million for the 2013 financial year, an increase of 18.6% over the previous year.

    The statutory earnings per share were 8.1 cents per share an increase of 4.4% on the previous corresponding period.

    In addition the Directors are pleased to advise that the final dividend has been increased to two cents per share, taking the full year dividend to four cents per share fully franked, up 14% on the on the dividend paid in the corresponding period.

    Highlights

    • Revenue growth of 16.4% to $272.7 million. The major drivers for revenue growth over the year included an increase in personal loan interest of $20.2 million and establishment fees of $5.9 million, an increase in corporate store revenue of $13.2 million and an increase in cash advance administration fees of $1.1 million.

    • The net profit after tax was $32.9 million, up 11.7% on the previous year.

    • The Australian personal loan book has grown by 35.4% from $67.6 million at 30 June 2012 to $91.5 million at 30 June 2013 and generated an EBITDA of $40.7 million, up 37.5% on the previous period.

    • The growth of the online personal loan business in Australia continues to be very strong with the value of loans written increasing 89% to $26.9 million (2012 $14.2 million).

    • The cash advance administration platform in Australia and the UK, generated an EBITDA of $14.4 million (2012 $13.7 million) which is up 4.8% on the previous year.

    • Three 'greenfield' company owned stores were opened in Australia and nine franchise stores were acquired, taking total corporate store numbers in Australia to 55 as at 30 June 2013. In the UK four franchised stores were acquired taking corporate store numbers in the UK to 63 as at 30 June 2013. Total corporate store numbers are 118 (63 in the UK and 55 in Australia).

    • The Company raised $32.7 million of capital through a placement of 38,500,000 shares at 85 cents per share in December 2012. The placement was substantially oversubscribed with strong support from existing and new institutional investors. The funds from the placement will be used to acquire stores within the franchise network, to open new corporate stores and to finance the growth of the Australian and UK personal loan books.

    7740
     

    Attached Files:

  2. galumay

    galumay learner

    Posts:
    1,860
    Likes Received:
    382
    Joined:
    Sep 17, 2011
    Interesting selling off of CCV, 22.5m today from one seller, price dropped as low as $1.10, another director sold out completely a few days ago too.
     
  3. ROE

    ROE

    Posts:
    2,964
    Likes Received:
    11
    Joined:
    Jan 5, 2007
    I'm totally out of this a while ago personal moral decision (98-105 around there) :) nothing to do with the business...
    I think this will go on to make much more money..
     
  4. galumay

    galumay learner

    Posts:
    1,860
    Likes Received:
    382
    Joined:
    Sep 17, 2011
    Trouble is if i got out of businesses on a moral basis i wouldn't hold any probably!
     
  5. ROE

    ROE

    Posts:
    2,964
    Likes Received:
    11
    Joined:
    Jan 5, 2007
    Long story but I have a line where I draw :)

    When I invest in CCV it was a second hand goods trader business, over the years it change to pay day lending
    and majority of their earning is now pay day lending...but I am not here to judge

    It never too late for me to act or have a change of heart :)
     
  6. bigdog

    bigdog Retired

    Posts:
    5,446
    Likes Received:
    714
    Joined:
    Jul 19, 2006
    http://finance.ninemsn.com.au/newsbusiness/aap/8720350/cash-converters-to-raise-up-to-60m

    AAP - Monday, September 9, 2013

    Cash Converters is seeking to raise $50 million to $60 million through an issue of corporate bonds to repay part of the group's existing debt and to fund further investments.

    The loans provider and second-hand goods retailer on Monday said it would offer senior unsecured notes at a minimum subscription of $50,000.

    "The ability of Cash Converters to access the wholesale Australian dollar debt markets demonstrates a new level of maturity for our business and evidences the high level of support from investors in funding our significant growth opportunities," Cash Converters managing director Peter Cumins said in a statement.

    "This issue will help to provide longer-term debt funding and demonstrates our diligent approach to capital management by achieving further diversity of funding sources."

    The notes will pay 7.95 per cent per annum and have an indicative term of five years.

    The lead arranger for the offer is FIIG Securities.

    Shares in Cash Converters were one cent, or 0.82 per cent, lower at $1.21 at 1255 AEST.
     
  7. McCoy Pauley

    McCoy Pauley Get out of here Budweiser!

    Posts:
    616
    Likes Received:
    0
    Joined:
    Nov 12, 2009
  8. Hodgie

    Hodgie

    Posts:
    155
    Likes Received:
    2
    Joined:
    Jun 13, 2013
  9. skc

    skc Goldmember

    Posts:
    8,260
    Likes Received:
    286
    Joined:
    Aug 12, 2008
    Good intraday trading opportunity upon re-opn with the response from CCV basically saying - Get your facts right and get out of my face.

    With the overall market showing reasonable resilient, a green close is a distinct possibility.
     
  10. McLovin

    McLovin

    Posts:
    5,341
    Likes Received:
    226
    Joined:
    Jun 2, 2011
    I don't like CCV's business model, which is basically to screw those who are hard up on their luck, and wouldn't buy the stock based on that. But this case seems like a fishing expedition, with the lawyers hoping to be given a go away fee. I wouldn't be surprised if they get one too.
     
  11. Hodgie

    Hodgie

    Posts:
    155
    Likes Received:
    2
    Joined:
    Jun 13, 2013
    I was discussing this with a friend offline, he and I came to the same conclusion as you. Problem is neither of us have much cash on hand at the moment which is unfortunate.
     
  12. Hodgie

    Hodgie

    Posts:
    155
    Likes Received:
    2
    Joined:
    Jun 13, 2013
    I have heard that from a few people, I dont personally share this opinion but I don't wish to have that debate on here.

    I respect your opinion though.
     
  13. bigdog

    bigdog Retired

    Posts:
    5,446
    Likes Received:
    714
    Joined:
    Jul 19, 2006

    Attached Files:

  14. 13ugs13unny

    13ugs13unny

    Posts:
    64
    Likes Received:
    0
    Joined:
    Sep 8, 2013
    well don't get angry get even, take your unwanted 'stuff' to CCV then buy their shares.

    for simplicity say it pays 4 cents for every dollar dividend p/a

    you invest $10 that 40cents.
    100 is $4
    1000 is $40
    10000 -$400
    then you get 100% franked amounts because you hold them for 45 days or more. so depends on your circumstance your due a tax refund on the shares you own.

    course seek professional advice.

    even if they win a class action against ccv its customers will probably pay it all back to CCV because they probably owe them anyway.

    Most likely they will claim it as a tax write off to wash their following year profits through the tax office, maybe even end up with a refund .lol.
     
  15. skc

    skc Goldmember

    Posts:
    8,260
    Likes Received:
    286
    Joined:
    Aug 12, 2008
    May be you can go to cash converters and get some cash to buy CCV shares :D

    I think they serve some purpose in the world of financie. There are people (albeit a small portion of their cusomters) with truely no alternate means of funds and just needed to tie things over. So CCV probably stops them from sourcing funds from other worse/illegal means. Then there are customers who just need a new flatscreen TV or a new tux so he could go on a date with an emo chick he just met... they deserve to be screwed anyway.

    But regardless, my trade will most likely be closed by the end of the day so what I think of their business model is a pretty moot point.
     
  16. Boggo

    Boggo

    Posts:
    3,105
    Likes Received:
    215
    Joined:
    Mar 28, 2006
    Had my stop set at 1.23 but decided to just get out at 1.235 yesterday as part of a cleanup of stocks that were going nowhere and looking vulnerable in the current environment.

    Some days it works :eek:
     
  17. Hodgie

    Hodgie

    Posts:
    155
    Likes Received:
    2
    Joined:
    Jun 13, 2013
    Haha I dont think the trade off would be worth it selling a product at a quarter of its value or taking out a loan at those rates to purchase some shares at a small discount...... better ways to source funds
     
  18. galumay

    galumay learner

    Posts:
    1,860
    Likes Received:
    382
    Joined:
    Sep 17, 2011
    Nice work! My dad used to say there are only 2 influences on outcomes, good management and bad luck!

    Seems like you exercised some good management there!

    My bad luck was to spend the day fishing yesterday and miss the chance to grab some at the bottom of the dip, by the time I realised what was going on they had recovered to $1.16 and I had missed the boat.
     
  19. Boggo

    Boggo

    Posts:
    3,105
    Likes Received:
    215
    Joined:
    Mar 28, 2006
  20. Julia

    Julia In Memoriam

    Posts:
    16,986
    Likes Received:
    1,628
    Joined:
    May 10, 2005
    Good to know some ethical considerations still exist. They're frequently taking advantage of people who have minimal understanding of what they're actually paying and who are borrowing in desperation.

    From ABC Radio today.
     
Loading...

Share This Page