Credit Corp: Result 2015

Credit Corp's consumer lending division felt the heat, but its core business had another good year.

Credit Corp’s core business of purchasing ledgers of distressed debt from banks and utilities performed admirably in the 2015 financial year, given difficult industry conditions. Competition for debt ledgers has been increasing recently, from the likes of Collection House and newly listed Pioneer Credit, causing prices for ledgers to rise. While ledger purchases fell slightly during the year to $143m, we're happier seeing a fall in purchasing than a willingness to overpay.

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