FlexiGroup Limited (FXL)

FlexiGroup Limited (FXL)

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General Information
Company Name: FlexiGroup Limited
Stock Code: FXL
Website: www.flexirent.com
Market Cap ($M): 420
Equiv. Shares (M): 33

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
  $ 1.520 $ 1.525 $ 1.540 $ 1.480 $ 1.550 116,529 $ -0.030  -1.935 %

Current Broker Consensus Recommendation more
Recommendation : Buy
Recommendation Date : 25th Aug 2010
12 Month Target Price (average) : $1.875
Brokers Surveyed : 2

Market Statistics
% of Market: 0.0324
% of Sector: 0.2372
Sector: Financials
Industry Group: Diversified Financials
Industry: Consumer Finance

Company Overview
Company Overview
FlexiGroup is a provider of retail point-of-sale lease and rental finance in Australia and New Zealand focusing on IT equipments such as desktop and laptop computers, computer peripherals and software and electrical appliances including audio visual equipment, whitegoods and browngoods. The company has also begun to offer personal and business loans and other financial services products, directly to active customers.

Financial Summary
Year to n/a
 NPAT
Rep $M		 NPAT1
Adj $M		 EPS
c		 EPS chg
%		 PER
x		 PER rel
All Ords x		 PER rel
Sector x		 DPS
c		 Yield
%		 Franking
%		 ROE
%
2004 n/a 0.0 n/a n/a 0.0
2005 n/a 0.0 n/a n/a 0.0
2006 n/a 0.0 0.0 0.0 0.0
2007 n/a 9.2 0.6 0.6 0.0
1NPAT is normalised by removing non-recurring items and goodwill. All the above statistics are derived from normalised earnings.

Peer Comparison
P/E (x) EPS Change (%) Dividend Yield (%)
Company Code Last Price Mkt Cap 07A 08F 07A 08F 07A 08F
Computershare CPU $9.55 $5,307M 15.7559 15.8000 5.4200 -10.4000 2.6400 2.5000
CarSales.com CRZ $5.09 $1,183M 25.7297 21.8000 n/a 26.5000 3.1300 3.7000
Iress Market Technology IRE $8.00 $1,008M 17.1000 16.6000 38.5000 3.2000 4.6000 4.9000
CSG Limited CSV $1.75 $425M 10.7981 8.5000 28.0200 21.2000 2.9900 3.7000
FlexiGroup FXL $1.55 $420M 5.7983 n/a 67.6100 n/a 5.4300 n/a

Share Price Returns
3 Months (%) 6 Months (%) 12 Months (%)
FXL 29.1100 11.4500 -2.1000
Sector 2.0680 -7.7311 -1.8704
Market 4.9669 -4.3076 2.0809

Ratio Comparison
Year FXL Sector Market
P/E (x) FY07 9.2 15.2 15.1
FY08 10.4 10.1
Yield (%) FY07 0.0 9.5 5.2
FY08 7.7 5.2
EV/EBIT (x) FY07 10.1 6.7 12.5
FY08 3.9 14.4
EV/EBITDA (x) FY07 9.7 6.1 12.8
FY08 3.7 12.1

Directors
Name Position
M Jackson Director
R Dhawan Director
R J Skippen Director
J DeLano Director
A Abercrombie Director


Substantial Shareholders
Name % Holding
FlexiGroup 38.9300
Eighth SRJ 33.2700

Calendar of Events
Date Event
15-Apr-2010 Dividend Date Payable for Half Yearly Result (3c 100% franked)
16-Mar-2010 Dividend Record Date for Half Yearly Result (3c 100% franked)
10-Mar-2010 Dividend Ex-Dividend Date for Half Yearly Result (3c 100% franked)
26-Nov-2009 AGM Date for Final Year Result
15-Oct-2009 Dividend Date Payable for Final Year Result (3c 100% franked)


Data supplied by Aegis Equities Research Pty Limited (ACN 085 293 910).


IMPORTANT : This information has been prepared without taking into account your objectives, financial situation or needs and you should consider if the information is appropriate for you before making an investment decision. Neither InvestSMART Financial Services Pty Ltd nor any of its Related Companies make any recommendations as to the merits of any investment opportunity referred to in its emails or its related websites. Product disclosure statements for financial products offered through InvestSMART can be downloaded from www.investsmart.com.au or obtained by contacting 1300 880 160. You should consider the product disclosure statement before making a decision about the product. All indications of performance returns are historical and can not be relied upon as an indicator for future performance.

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