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General Information

Credit Corp Group Limited
CCP
http://www.creditcorp.com.au
Diversified Support Services
569
46

Current Price Data+

Current Price Open High Low Last Close Volume Price Movement
$12.30 $12.71 $12.73 $12.23 $12.66 141859 $0.36 ( 2.84% )
  • +Security prices are delayed by least 20 minutes and are indicative only.

Current Broker Consensus Recommendation

Buy
02/07/2015
2

Company Overview

Business Description
Credit Corp Group Limited (CCP) is an Australian receivables management company, specialising in debt purchase and debt collection services, primarily focusing on the acquisition of purchased debt ledgers (PDLs) comprised of distressed consumer debt from Australian and New Zealand banks, finance companies, and telecommunication companies. CCP has a recent expansion to USA.
Strategy Analysis
CCP has implemented a number of initiatives to improve performance. Competitive advantage comes through the strong relationships with domestic credit providers, and a large database of debtors which improves the analysis needed in tender pricing ledgers. CFO Todd Vogel resigned on 14 September 2010. Management has announced their intention of expanding collections in 2011, together with continued in-house technological innovation to improve collection effectiveness and efficiency. Credit Corp Group reported NPAT up 28% to $16.72m for the half-year ended 31 December 2012. Revenues from ordinary activities were $71.73m, up 12% from the same period last year. Diluted EPS was 36.5 cents compared to 28.7 cents last year. The net operating cash inflow was $78.37m compared to an inflow of $65.6m in the pcp. The interim dividend declared was 20 cents compared with 13 cents last year.

Financial Summary

Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2016 F 0.0 92.7 12.7% 13.3 46.2 3.8% 0.0%
2015 F 0.0 82.2 9.0% 15.0 41.2 3.4% 0.0%
2014 A 34.8 75.4 8.1% 12.3 40.0 4.3% 100.0%

Peer Comparison

Company Mkt Cap EPS Growth (%) P/E (%) Dividend Yield (%)
2014 A 2015 F 2016 F 2014 A 2015 F 2016 F 2014 A 2015 F 2016 F
Brambles (BXB) $17,158M -0.1222 0.1992 0.0664 26.7595 22.3151 20.9249 2.47% 2.56% 2.61%
Credit Corp Group (CCP) $586M 0.0812 0.0901 0.1272 16.7838 15.3958 13.6584 3.16% 3.26% 3.65%
Downer EDI (DOW) $2,164M 0.0083 0.0209 0.0013 10.8043 10.5835 10.5700 4.63% 4.88% 5.03%
Recall Holdings (REC) $2,249M 0.0000 -0.1410 0.0940 20.8916 24.3216 22.2326 1.18% 2.59% 3.08%
Spotless Group Holdings (SPO) $2,383M 0.0000 1.8538 0.2057 46.6667 16.3527 13.5625 0.00% 4.59% 5.53%

Financial Summary

Earnings P/E Ratio P/B Ratio P/E Growth
Company 0.61 15.00 3.56 1.38
Market 0.91 16.10 1.33 1.27
Sector 0.83 13.40 1.48 0.98

Directors

Name Position Start Date
Mr Richard J Thomas Non-Executive Director 22/09/2006
Mr Simon Calleia Non-Executive Director 05/05/2000
Mr Robert Fitz-Gerald Shaw Non-Executive Director 31/03/2008
Mr Eric Dodd Non-Executive Director 01/07/2009
Ms Leslie Martin Non-Executive Director 20/03/2014
Mr Donald Evan McLay Non-Executive Director, Non-Executive Chairman 31/03/2008

Management

Name Position
Michael Eadie Chief Financial Officer,Company Secretary
Thomas Beregi Company Secretary,Chief Executive Officer
Geoffrey Templeton Compliance Manager,Company Secretary
Michael Mifsud Head of Analytics
Kristina White Head of Business Services
Matthew Stokes Head of Collections
Tegan Pearson Head of Human Resources

Substantial Shareholders

Holding Name
5,520,933 (11.97%) Denver Investment Advisors LLC
2,394,539 (5.19%) Vinva Investment Management
2,351,062 (5.10%) Georgia Division Of Investment Services

Calendar of Events

Date Event
28 January 2016 Report (Interim)
02 October 2015 Report (Annual)
04 August 2015 Report (Annual)
04 August 2015 Report (Prelim)
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