Pioneer Credit Limited
(ASX:PNC) has secured a new vendor partner relationship with one of Australia’s leading investment banks.
The financial services provider said the new relationship will see Pioneer secure a significant parcel of customers immediately with the expectation that additional purchasing agreements will be executed in the near term.
Managing Director Keith John said current PDP marketplace conditions are ideal for Pioneer to meet its FY16 purchasing targets.
The company continues to guide to an investment in PDPs of at least $42 million and a profit after taxation for FY16 of at least $8.8 million.
Pioneer Credit recorded a net profit of $3.32 million at 31 December 2015.
