SACC Lending constitutes a small (and diminishing) portion of MNY's business and the impression that i got from their HY Report was that management well and truly understand this. Significant traction has been made in positioning MNY away from SACC, and into the Secured Lending sector.
The funding issue is a thorn in the side at the moment, however the MD is a good operator and i'm confident they'll get it sorted out in time. Pie Funds exiting is also causing pandemonium and i suggest that a large group of people who would have followed them into the stock, are also following them out too.
Am also happy to ride it out, see what the FY Report brings us.
MNY Price at posting:
$1.44 Sentiment: None Disclosure: Held
