Pioneer Credit NPAT FY17 to hit $10.7m, FY18 to jump 49%

Company News

by Jessica Amir

Pioneer Credit Limited (ASX:PNC) is expecting to report net profit after tax (NPAT) of $10.7 million for the financial year ending 30 June 2017.

Meantime, the financial services firm that acquires and services retail debt portfolios is tipping that its FY18 NPAT will increase more than 49 per cent to at least $16 million.

Pioneer Credit says its results are partly driven by its disciplined approach to investing in purchased debt portfolios (PDPs).

The firm also says 93 per cent of its expected investment in debt portfolios are under contract for FY18.

Shares in Pioneer Credit Limited (ASX:PNC) last traded 3.8 per cent higher to $2.45.

Jessica Amir

Finance News Network
Jessica presents the Market Outlook and company news. She joined FNN in January 2017. She has been in broadcast journalism for over five years. She has worked as a journalist with Sky News Business, ABC 1 and ABC24. She has also worked in regional Australia for Prime 7 and WIN News. She is also a qualified financial planner and a Masters of Applied Finance student.