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Slovar Limited — Earnings Release 2018
Feb 18, 2018
17773_rns_2018-02-18_d9d677bd-4c0b-48ad-ae66-0b831f145ba8.pdf
Earnings Release
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money3
19 February 2018
ASX Release
MONEY3 ANNOUNCES 12.3% PROFIT GROWTH FOR H1, NPAT OF $15.5M
The Directors of Money3 Corporation Limited (ASX: MNY) today announced first half results for the six months ended 31 December 2017, including the following comparisons to the prior corresponding period (pcp):
Highlights of the result include:
- Net Profit After Tax increased 12.3% over the pcp,
- Strong EBITDA Margin of 45.6%,
- 80% increase in interim dividend to 4.5c, compared to pcp
- Gross loan book growth of 18.5% to $292.8m
| | H1 FY18
$ | Increase
% |
| --- | --- | --- |
| Revenue | 60.4m | 16.8 |
| EBITDA | 27.5m | 18.0 |
| NPAT | 15.5m | 12.3 |
| EPS (Basic) | 9.80cps | 9.9 |
| Dividend | 4.5cps | 80.0 |
During the period, the company secured $150m in debt facilities, $50m currently drawn, to repay existing debt facilities and provide funding for growth of secured automotive receivables.
Secured automotive lending continued to grow over the half, taking the gross loan book as at 31 December 2017 to $234.6m, an increase of 24.7% year on year, from $188m. The company anticipates further growth in secured receivables as it is receiving strong demand from customers.
Outlook:
Money3 continues to experience strong growth and demand for its secured automotive loan products. Estimating a target market in Australia of approximately 700,000 cars per annum with Money3's current run rate of approximately 14,000 automotive loans for the financial year, representing approximately 2% penetration. There is significant scope for Money3 to grow its market share of the second hand automotive finance market into the future and expects to take 3% market share in the coming 12 months.
Money3 Corporation Limited
ABN 63 117 296 143
Australian Credit Licence
389 782
Level 1, 40 Graduate Road
Bundoora, Vic, 3083
T 61 3 9093 8255
F 61 3 9093 8227
www.money3.com.au
money3
Managing Director Scott Baldwin said:
"We are excited to deliver another record result to shareholders, with a 12.3% increase in NPAT from the prior corresponding period. The Gross loan book continues to grow in line with expectations and we expect to continue a solid return in the second half of the financial year. Importantly the strength of our secured automotive lending is now clearly visible in the results."
Money3 announces an interim dividend of 4.5 cents per share, fully franked and a dividend reinvestment program with a 5% discount.
The Directors are also pleased to increase guidance for FY2018 Net Profit After Tax to a range of $30-31m.
-ENDS-
For further information please contact:
Mr Scott Baldwin
Managing Director
Email: [email protected]
Telephone: +61 3 9093 8255