Business Description:
Credit Corp Group Limited (CCP) is a 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 financial institutions.

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 55% to $21.02m for the year ended 30 June 2011. Revenue from ordinary activities were $113.64m, up 22% from last year. Diluted EPS was 46.9 cents compared to 30.3 cents last year. Net operating cash flow was $119.51m compared to $103.2m last year. The final dividend declared was 10 cents fully franked, taking the full year dividend to 20 cents compared with 8 cents last year.