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Pioneer Credit Limited (ASX:PNC)

ALERT: Price-sensitive ASX Announcement for PNC
Current share price for PNC : $0.650 -0.02 (-2.99%)+
Announcement
Release
19 Aug 2026 8:01AM
Price at Release
$0.670
Full Release
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Summary
Pioneer Credit Limited announced a record statutory net profit after tax of $23.1 million for FY26, marking a significant 245% increase from the previous year. The company achieved this by making a record Purchased Debt Portfolio (PDP) investment of $105.1 million, positioning itself for future earnings growth. To reinforce its financial standing, Pioneer completed an oversubscribed $17 million placement. For FY27, Pioneer projects cash collections between $170 million to $180 million and targets a net profit after tax of at least $35 million by FY29. The company reported successful debt facility cost reductions, expecting annual savings of $4.5 million, and continues litigation against PwC with significant progress. Pioneer aims for further growth by investing in technology, compliance, and customer service improvements.
Key Points
  • Pioneer Credit Limited delivered a record FY26 statutory net profit after tax of $23.1 million, a 245% increase from FY25.
  • Record Purchased Debt Portfolio (PDP) investment of $105.1 million was made, with expectations for future earnings growth.
  • The company completed an oversubscribed $17 million placement to strengthen its financial position.
  • Pioneer has provided FY27 cash collections guidance of $170 million to $180 million.
  • FY29 NPAT guidance is at least $35 million.
  • Pioneer reduced the cost of its debt facilities and expects annual savings of $4.5 million.
  • Litigation against PwC is ongoing with significant progress reported.
  • The company plans for continued growth with a focus on technology, compliance, and customer service improvements.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.