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General Information

Cash Converters International
CCV
http://www.cashconverters.com
Specialty Stores
344
481

Current Price Data+

Current Price Open High Low Last Close Volume Price Movement
$0.72 $0.73 $0.74 $0.71 $0.73 210288 $0.01 ( 1.38% )
  • +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
Cash Converters International (CCV) is a franchised retail network which specializes in the sale of second-hand goods. The core business of CCV is the ownership and franchising of retail and financial services stores, which operate as retailers of second hand goods and suppliers of financial products.
Strategy Analysis
CCV´s vision is to turn second-hand goods stores into professional retail outlets. The franchise business is involved in buying and selling second-hand goods for cash. The company franchises its store operation with the national advertising and marketing programs support. The business has recently repositioned itself by significantly changing the look and feel of its stores. This is expected to make the company more appealing and contemporary. With the acquisition of Safrock, Mon-e and 17 corporate stores in four states there have been integration and control issues, which CCV will have to monitor over the next few years. Cash Converters reported a net profit of $18.43m for the half-year ended 31 December 2012. Revenues from ordinary activities were $134.92m. Diluted EPS was 4.6 cents compared to 3.4 cents last year. Net operating cash flow was $3.2m compared to $1.38m last year. The interim dividend declared was 2 cents compared with 1.75 cents last year.

Financial Summary

Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2016 F 0.0 10.0 219.7% 7.1 4.7 6.6% 0.0%
2015 F 0.0 3.1 -43.5% 22.8 4.3 5.9% 0.0%
2014 A 21.1 5.6 -29.8% 18.9 4.0 3.8% 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
Cash Converters International (CCV) $349M -0.2979 -0.2608 1.4136 13.0396 17.6399 7.3085 5.52% 5.86% 6.48%
Kathmandu Holdings (KMD) $307M -0.0191 -0.3872 0.1324 8.0348 13.1126 11.5793 7.18% 3.96% 4.73%

Financial Summary

Earnings P/E Ratio P/B Ratio P/E Growth
Company 0.58 22.80 1.24 0.66
Market 0.91 16.10 1.33 1.27
Sector 1.05 15.30 1.81 1.88

Directors

Name Position Start Date
Mr Peter Cumins Managing Director 26/04/1995
Mr Stuart Ian Grimshaw Non-Executive Director 01/11/2014
Mr Kevin Anthony Dundo Non-Executive Director 20/02/2015
Mr Lachlan (Lachie) P Given Non-Executive Director 22/08/2014
Mr Reginald Webb Non-Executive Director, Non-Executive Chairman 22/10/1997

Management

Name Position
David Patrick Chief executive officer, UK
Glen Fee Chief information officer
Mike Osborne Company secretary / chief financial officer, UK
Derek Ralph Groom Company Secretary,Chief Financial Officer
Ian Day General manager, Australia
Michael Cooke Group legal counsel

Substantial Shareholders

Holding Name
136,848,000 (31.88%) EZCORP, Inc and its associates
40,760,766 (9.50%) HSBC Custody Nominees (Australia) Limited
36,259,086 (8.45%) Citicorp Nominees Pty Limited
30,523,546 (7.11%) RBC Investor Services Australia Nominee Pty Limited
30,248,935 (7.05%) J P Morgan Nominees Australia Limited
23,513,302 (5.48%) National Nominees Limited

Calendar of Events

Date Event
29 February 2016 Report (Interim)
15 February 2016 Report (Interim)
19 October 2015 Report (Annual)
20 August 2015 Report (Prelim)
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