Many of you will be aware of the announcement we made to the ASX last night about the purchase of the Cashfirst branded consumer loan book and associated assets from Thorn Group Limited (ASX:TGA) for a total consideration of $13.3m.
This acquisition is a demonstration of the benefits of Credit Corp’s investment discipline and commitment to sustainable business practices at a time when many operators in the credit impaired consumer segment of the financial services market are showing signs of stress.
This transaction and further purchases in the US has required us to upgrade our PDL acquisition targets and Net Profit after Tax for the current financial year.
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