Stocks of the Hour: Credit Corp, Ramsay Health Care & Boral

Company News

by Lauren Evans

Credit Corp (ASX:CCP) has upgraded its guidance after a strong first half result, driven by a step up in US purchased debt ledger (PDL) and its acquisition of Radio Rentals. The company’s net profit after tax grew 8 per cent to $45.7 million for the half. Shares are trading 4.6 per cent higher at $35.46.

Ramsay Health Care (ASX: RHC) has completed its $1.4 billion purchase of UK-based mental healthcare provider Elysium Healthcare, announced in December. Ramsay said the acquisition is slated to provide a leg into the growing UK mental health hospital market with opportunities for both organic and inorganic growth. Shares are trading 1.5 per cent higher at $63.70.

Building business Boral (ASX:BLD) has announced a $3 billion return of capital to shareholders following the sale of its UK and Australian divestments. The cash distribution of $2.72 per share will be in the form of a $2.65 per share equal capital reduction, totalling $2,923 million and an unfranked dividend of 7 cents per share, totalling $77 million. Shares are trading 5.6 per cent higher at $6.20.

Update to Boral, removal of "surplus" to describe capital return to shareholders.

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