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CCP - Credit Corp Group

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Value Hunter said:
rnr I think you are mistaken. My understanding is that the 2.3 times revenue return multiple is inclusive of original capital invested.
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It would help if you put up some calculations to show how you arrive at up your conclusion.

As per the quote provided the cost base is around the $0.20 mark. I will leave the rest up to you.
 
Anyone got their papers yet?

What’s the BPAY number? I haven’t got anything and the website is skint.
 
JTLP said:
Anyone got their papers yet?

What’s the BPAY number? I haven’t got anything and the website is skint.
Click to expand...
Didn't get it in the mail or electronically? Got it long ago. You better follow up.
 

Looks to me like a symmetrical triangle is forming/has formed which would possibly indicate that a breakout is imminent.
 
Well I bit the bullet and put in my SPP, the discount was too good to ignore. Will be interesting to see how much of a scale back there is.
 
I have never seen an SPP so far below the current share price like this (about $17%).

The SPP price is $20.45 while the present price is about $24. I think the scale back may be massive unfortunately.

 
SPP amount to be increased to $15 million from $10 million.
Scale back will be pro rata. I have a feeling we won't get many.
 
Yes, its only around 700k shares, hopefully there are lots of lazy people that forgot to put in, didnt have the spare cash, or didnt bother to work out the arbitrage between SPP price and current price.

Have to think the price will come under some pressure then the new shares start trading!
 
0.391 scale back.

As I had only $5000 spare I will get 95 shares at $20.45. $1942 worth.

Those who managed to find $15,000 will received 286 shares (assuming they scale down). $5865 worth.
 
I put in $12k, so will end up with, 229 extra shares. Oh, well some capital to find a new home for!
 
I didn’t get any. Stupidly made a keystroke error and didn’t meet the threshold for application. They only told me after it closed.
 
When are they going to give the remainder of the money back? It's been a week.
 
I have had mine back since last Friday, already re-invested elsewhere!
 
This has been an absolute juggernaut lately, up to $27 which is an ATH I believe? Still can’t believe I also didn’t get my shares in the SPP, holders are up 35% already.

Anyway, is it the low interest rate environment driving this? More credit uptake? Or are people expecting a big result / market update? This has been a bit the rumour, sell the fact on many an occasion.

And finally, this today became a 10 bagger from the days of $2.72 when I purchased. Wonderful stuff.
 
Yes, its certainly been swept along by the general market euphoria since the SPP, pity we were not able to get more of the allocation!
 
Closed at $27.56, a new high.
Perfect company to own, good dividends, expanding market, overseas income, good management, good growth and also some blue sky.
 
Its been a nice week for a few of my bigger holdings! CCP & DDR doing very well.
 


ASX announcements today


Motley Fool reported
The Credit Corp Group Limited (ASX: CCP) share price has dropped 6% to $24.88 following the release of the debt collector and receivables company’s full year results. Those results appeared to fall well short of expectations and led to many investors hitting the sell button today. Credit Corp posted a 9% increase in net profit after tax (NPAT) to $70.3 million in FY 2019 and provided guidance for NPAT of $75 million to $77 million in FY 2020.




 

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Bigdog, do you ever have an opinion on anything? All you ever seem to do is post the whole transcript of online articles that are freely available to anyone who cares to read them! Perhaps you could reflect on whether that actually adds anything to ASF?

If I wanted to read the waffle Motley Fool write, I would go to their site, I come here to read what the members of ASF have to say.

Mr Market presented a great opportunity for anyone building a position in CCP, with a solid fall of about 7% after releasing their financials for 2019. I suspect it was the guidance of fairly soft numbers for 2020 that scared the irrational Mr Market. Anyone familiar with CCP would know their history of underpromising and overdelivering. (2019 being a classic example, guidance was about half of actual result.)

Also a measure of the quality of management was that the costs of the capital raising were not broken out, nor deduscted from 'normalised' earnings or any of the other chicanery so many businesses engage in.
 
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