Cash Converters Q1 revenue up 26.2%

Company News

Cash Convertors International Limited (ASX:CCV) has reported strong revenue growth of 26.2 per cent to $97.2 million in the first quarter. This compares to revenue of $77 million in the same period last year. 
 
Revenue growth has been driven by a strong uptake in personal loans as well as a jump in corporate store revenue. Personal loans grew by 23.4 per cent with online personal loans increasing by $13.1 million or 111.5 per cent on the first quarter last year. 
 
Revenue in the UK and Australian corporate stores has jumped by 15.4 per cent to $50 million.
 
The franchise of high street pawnbrokers says it expects the momentum to continue into the Christmas period which is seasonally strong period for Cash Convertors. The financial performance of the company is improving strongly and further acquisitions are being considered. 
 
Cash Convertors reported a net profit of $21.1 million for the full year ended 30th June 2014. 

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