Credit Corp Group (ASX:CCP) CEO, Thomas Beregi discusses results, highlights, performance in its 3 key business segments, turnaround in its US operations and outlook for the year ahead.
Credit Corp Group (ASX:CCP) is Australia’s largest provider of sustainable financial services in the credit impaired consumer segments. Credit Corp’s customers may have had trouble with credit in the past or have defaulted on their credit obligations and may be suffering a degree of financial exclusion.
o Operates three business segments
· Australian/NZ debt buying
o Maintained pricing and operational discipline
o Indications of segment stress point to opportunities ahead
o Australian/NZ lending
- Offering a superior product, critical to the lending business’ success with pricing below the cap applicable to mainstream lending
- integration economics are a sustainable barrier with the ability to leverage common overhead and consumer understanding from the core business.
o USA debt buying
· US business (which is 10 times the Australia market) is a driver of profitable growth and is growing much faster than the local market
· Increasing PDL aquisitions and growing headcount