top 10

The top ten things I will be looking at when FSA releases its results in under 2 weeks.

1 Profit after tax
It will be interesting to see how close they get to the 38% mark.

2. Profit upgrade
I am confident that there will be one. Will be focusing on the top of their range.

3 The dividend amount
I am hoping for a 3 cent fully franked dividend. While the payout ratio would be high, cash flow might support it.

4 Cash flow
There has been a substantial increase in cash flow from $3.2M in the first half of FY2012 to $7.5M in the first half of FY2013. I am not expecting an increase given management expectation that for a full year it will run at about $12M.

5 Marketing expenses
I am being bombarded with advertising on the internet. Have they increased their marketing spend? I have probably searched on debt agreements, creating cookies, which might explain the extra targeted advertising I am receiving.

6 The number of debt agreements and overall market share
Given the advertising and new trading names, has that increased their market share above 48%?

7 Commentary on the personal loan trial
I believe the trial has only just started. Will be interest in the take up of the new product.

8 Business lending
Expecting a turnaround in this area. Comparing the first half of last financial year, it recorded a small loss. Expect a different result this half. Will be profitable, this is a growth area.

9 Home loan lending
As they are actively attempting to grow their loan pools, I expect an improved result. Will be interested to see if the bad debt levels have increased.

10 The amount of unsettled funds approved for home loans
Always an indicator as to the home loan activity. Will compare prior years to get a gauge. In 2012 it was $3,394,000 and in 2011 it was $6,458,800. I am expecting to see an increase on last years figure.