CCP - Credit Corp Group
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McCoy Pauley
Get out of here Budweiser!
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Interesting article about CCP and a competitor, Baycorp Advantage, in the weekend's AFR. Worth reading if you're a holder.
Disc - no shares owned but on watchlist.
Disc - no shares owned but on watchlist.
Hope you still got this stock and look like you may not wait long for the share price to go back up...it's been going gangsbuster since Late last year and
close 9.6% up for the day when the market just manage to step over the green line..
bigdog
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ASX ANN
16/02/2010 Half Yearly Report and Accounts
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01037764
For the six months ended 31 December 2009
Financial results
Revenue from ordinary activities(1) UP 14% to $89.2 m
EBITDA(1) UP 18% to $58.6 m
Impairment of available-for-sale financial assets(1) UP 23% to $42.5 m
Profit before tax(1) UP 14% to $10.2 m
Profit after tax UP 11% to $6.9 m
(1) Prior corresponding period comparatives are for continuing operations
Dividends
31 Dec 09 Interim dividend 3 cents (100% franked)
31 Dec 08 Interim dividend 2 cents (100% franked)
Earnings per share
Dec 2009 Basic earnings per share 15.62 cents (UP 10%) (2008 14.22 cents)
Dec 2009 Diluted earnings per share 15.53 cents (UP 9%) (2008 14.22 cents)
Dec 2009 NTA per share 183.3 cents (2008 151.97 cents)
9245
16/02/2010 Half Yearly Report and Accounts
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01037764
For the six months ended 31 December 2009
Financial results
Revenue from ordinary activities(1) UP 14% to $89.2 m
EBITDA(1) UP 18% to $58.6 m
Impairment of available-for-sale financial assets(1) UP 23% to $42.5 m
Profit before tax(1) UP 14% to $10.2 m
Profit after tax UP 11% to $6.9 m
(1) Prior corresponding period comparatives are for continuing operations
Dividends
31 Dec 09 Interim dividend 3 cents (100% franked)
31 Dec 08 Interim dividend 2 cents (100% franked)
Earnings per share
Dec 2009 Basic earnings per share 15.62 cents (UP 10%) (2008 14.22 cents)
Dec 2009 Diluted earnings per share 15.53 cents (UP 9%) (2008 14.22 cents)
Dec 2009 NTA per share 183.3 cents (2008 151.97 cents)
9245
Hello all,
CCP share price has been on a steady decline recently.
On the 16th-Feb the company gave a FY10 earnings guidance with the half yearly report of $12.5-14 million NPAT/28-30 cents EPS. A solid result.
Since then the SP has declined from roughly $3 to $2.60. (It was already tracking a downward path from an earlier high of $3.39.)
Interesting to note that in the month since the half yearly report the chairman and a director have purchased (indirectly) a combined $731,234.26 worth of stock.
Recent pullback a buying opportunity?
CCP share price has been on a steady decline recently.
On the 16th-Feb the company gave a FY10 earnings guidance with the half yearly report of $12.5-14 million NPAT/28-30 cents EPS. A solid result.
Since then the SP has declined from roughly $3 to $2.60. (It was already tracking a downward path from an earlier high of $3.39.)
Interesting to note that in the month since the half yearly report the chairman and a director have purchased (indirectly) a combined $731,234.26 worth of stock.
Recent pullback a buying opportunity?
A bit of price manupilation going on if you look at the course of trades
plenty of 1-20 shares parcel sell at cheap price to systematicly drive price down to hopefully trigger some sort of sell off
chairmain probably bought more than half of the volume each day so it's cheap for him I guess.
Regarding to whether you buy them or not it's should be your call
plenty of 1-20 shares parcel sell at cheap price to systematicly drive price down to hopefully trigger some sort of sell off
chairmain probably bought more than half of the volume each day so it's cheap for him I guess.
Regarding to whether you buy them or not it's should be your call
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Didn't they just finish paying a dividend on the 10th? If thats so then your probably seeing the sell-off from dividend traders who have banked recent capital gains and taken their dividend check home. I don't have access to their chart atm, but will post one when i get home.
This is absolutely frustrating. SP has dropped from a high of $3.39 in Jan to sub-$2.39 today.
I absolutely love the value in this company however I am highly suspicious of this price move. Hopefully there hasn't been a leak of sensitive information.
P/E: 9ish
P/Free cash flow: 1ish
Dividends should continue to rise.
All known information points towards a solid company. I will be awaiting indications of a bottom and increasing my position.
I absolutely love the value in this company however I am highly suspicious of this price move. Hopefully there hasn't been a leak of sensitive information.
P/E: 9ish
P/Free cash flow: 1ish
Dividends should continue to rise.
All known information points towards a solid company. I will be awaiting indications of a bottom and increasing my position.
Just had a look at the interim report. I'm not sure that a traditional free cash flow measure (ie operating cash flow - maintenance cap ex) should be used for a company like this as investing and financing cash flows might be better classified in a different way. For example I would classify "Purchase of available-for-sale financial assets" under operating cash flows as this is equivalent to inventory.
One thing I can tell you is that, a company cant lies for long with dividend payout.
you need cash to pay out dividends and if your financial position is shaky banks will force you to stop paying dividend, like SIP recently
for all the problem CCP gone through it has not stop paying dividend EVER it's maybe lower
but maintaing dividend in the face of share price plummet and lot of speculation would certainly give
you credibility of their business model and ability to generate cash even with a huge stuff up here and there.
I'm sensing it wont be long before they start paying much higher dividends and I'm sure that what's the chairman is buying for, you dont rack up a few million shares to make a quick bucks but to get reliable stream of dividend
and dont get mad get even if you are strong with your conviction you know what to do when the price is low
you need cash to pay out dividends and if your financial position is shaky banks will force you to stop paying dividend, like SIP recently
for all the problem CCP gone through it has not stop paying dividend EVER
it's maybe lowerbut maintaing dividend in the face of share price plummet and lot of speculation would certainly give
you credibility of their business model and ability to generate cash even with a huge stuff up here and there.
I'm sensing it wont be long before they start paying much higher dividends and I'm sure that what's the chairman is buying for, you dont rack up a few million shares to make a quick bucks but to get reliable stream of dividend
and dont get mad get even if you are strong with your conviction you know what to do when the price is low
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One thing I can tell you is that, a company cant lies for long with dividend payout.
you need cash to pay out dividends and if your financial position is shaky banks will force you to stop paying dividend, like SIP recently
for all the problem CCP gone through it has not stop paying dividend EVER
but maintaing dividend in the face of share price plummet and lot of speculation would certainly give
you credibility of their business model and ability to generate cash even with a huge stuff up here and there.
I'm sensing it wont be long before they start paying much higher dividends and I'm sure that what's the chairman is buying for, you dont rack up a few million shares to make a quick bucks but to get reliable stream of dividend
and dont get mad get even if you are strong with your conviction you know what to do when the price is low
I 100% agree.
Chart shows a good rebound with better than average volume, I would be tempted to get on board if next week holds support over $2.50.
Good projected figures, will see how she sails.
I just went back to the start of December '09 to scan through the Director's interest notices. Mr Donald McLay has been the main buyer with all but 1 up to the 16th of March. And himself and Torres Industries have purchased well over 250,000 (probably more but I lost count) dollars worth of CCP. I think you are on to something here ROE...he has purchased right up to the $3 dollar mark and to be honest it doesn't look like he is stopping any time soon.
Might have been a bit of a missed opportunity not getting onto CCP at 2.31 on friday. Time will tell...
Closed a few cents down today to finish at 2.77. Was cursing my life away when I didn't even have a sniff in the dollar range...I thought it had run away then!
Dividend payable on the 1st of April...when's the record date? Today? Would make sense with a 3 cent drop.
Might chuck an order in soon...even if it is to be a part of this Director's wild purchasing spree!
Don McLay - 4th June 09 - 16,690 @ 1.91 = $31,877.90
Robert Shaw - 22nd May 09 - 895 @ 1.91 = $1709.45
Simon Calleia 27th May 09 - 204 @ 1.91 = $389.64
Simon Calleia 14th Oct 09 - 400,000 disposed @ 2.55 = $ -1,020,000
Don McLay - 27 Nov 09 - 53,762 - $131,682.83
Don McLay - 30 Nov 09 - 31,238 - $76,718.36
Don McLay - 7th, 8th, 10th Dec 09 - 38,755 - $96,853.75
Don McLay - 16th & 17th Feb 10 - 120,000 - $358,305.84
Simon Calleia - 16th Feb 10 - 50,000 @ 3.00 = $150,000
Don McLay - 26th Feb 10 - 31,221 - $86,587.99
Don McLay - 5th & 8th March 10 - 17,227 - $49,710.43
Don McLay - 9th & 10th March 10 - 10,000 - $28,300
Don McLay - 12th, 15th & 16th March 10 - 21,552 - $58,330.40
Don McLay - 19th March 10 - 31,559 - $75,754.30
Eric Dodd - 19th March 10 - 10,000 - $25,000
Don McLay - 29th & 31st March 10 - 18,977 - $50,837.90
Don Mclay & Indirect Interests (Total) = $1,044,959.70 worth of stock purchased since 4th June '09
Simon Calleia & Indirect Interests (Total) = (-)$869,910.36 disposed since 27th May '09 (when I say disposed he has acquired some in this time but his holding has been reduced by this amount)
Robert Shaw & Indirect Interests (Total) = $1,709.45 acquired since 22nd May '09
Eric Dodd & Indirect Interests (Total) = $25,000 worth of stock purchased since 19th March 10
What interests me about this is the frequency of purchases from Don McLay...right up until yesterday he has been purchasing. Wonder what the plans are for the company and why so much purchasing has occurred?
Robert Shaw - 22nd May 09 - 895 @ 1.91 = $1709.45
Simon Calleia 27th May 09 - 204 @ 1.91 = $389.64
Simon Calleia 14th Oct 09 - 400,000 disposed @ 2.55 = $ -1,020,000
Don McLay - 27 Nov 09 - 53,762 - $131,682.83
Don McLay - 30 Nov 09 - 31,238 - $76,718.36
Don McLay - 7th, 8th, 10th Dec 09 - 38,755 - $96,853.75
Don McLay - 16th & 17th Feb 10 - 120,000 - $358,305.84
Simon Calleia - 16th Feb 10 - 50,000 @ 3.00 = $150,000
Don McLay - 26th Feb 10 - 31,221 - $86,587.99
Don McLay - 5th & 8th March 10 - 17,227 - $49,710.43
Don McLay - 9th & 10th March 10 - 10,000 - $28,300
Don McLay - 12th, 15th & 16th March 10 - 21,552 - $58,330.40
Don McLay - 19th March 10 - 31,559 - $75,754.30
Eric Dodd - 19th March 10 - 10,000 - $25,000
Don McLay - 29th & 31st March 10 - 18,977 - $50,837.90
Don Mclay & Indirect Interests (Total) = $1,044,959.70 worth of stock purchased since 4th June '09
Simon Calleia & Indirect Interests (Total) = (-)$869,910.36 disposed since 27th May '09 (when I say disposed he has acquired some in this time but his holding has been reduced by this amount)
Robert Shaw & Indirect Interests (Total) = $1,709.45 acquired since 22nd May '09
Eric Dodd & Indirect Interests (Total) = $25,000 worth of stock purchased since 19th March 10
What interests me about this is the frequency of purchases from Don McLay...right up until yesterday he has been purchasing. Wonder what the plans are for the company and why so much purchasing has occurred?
CCP still bouncing around the 2.60 to 2.80 range. Low volumes and all that.
Does anybody know when the 2011 guidance will come out? Word around town is that the market is quite competitive due to low unemployment figures and more player's entering into the market. My take on this is that low unemployment means people just feel more secure...doesn't mean they won't spend and it certainly doesn't mean people can service their debts. I kind of look at it as a positive. More money in the market, more Mr Big Shots, more money for CCP to chase =)
Would like to see some more director purchasing though:
Does anybody know when the 2011 guidance will come out? Word around town is that the market is quite competitive due to low unemployment figures and more player's entering into the market. My take on this is that low unemployment means people just feel more secure...doesn't mean they won't spend and it certainly doesn't mean people can service their debts. I kind of look at it as a positive. More money in the market, more Mr Big Shots, more money for CCP to chase =)
Would like to see some more director purchasing though
:Good old CCP.
They have increased there forecasts for the year. Just lovely.
http://asx.com.au/asxpdf/20100520/pdf/31qfpcn3zlg9s0.pdf
Within the doc they have increased their EPS to 29-31. Other highlights within are the BIG reduction of Net Bank Debt; down 41%
http://asx.com.au/asxpdf/20100520/pdf/31qfpm9srb01f2.pdf
Market presentation in the 2nd link
All smiles
They have increased there forecasts for the year. Just lovely.
http://asx.com.au/asxpdf/20100520/pdf/31qfpcn3zlg9s0.pdf
Within the doc they have increased their EPS to 29-31. Other highlights within are the BIG reduction of Net Bank Debt; down 41%
http://asx.com.au/asxpdf/20100520/pdf/31qfpm9srb01f2.pdf
Market presentation in the 2nd link
All smiles
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