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22.0¢ collection house limited

15%+ rises in revenue and profit year on year for the last 5...

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Investing101

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16/06/15

17:25

Post #: 15477134
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Originally posted by colablackandwhite ↑

CLH is the least innovative of the listed debt buyers. Executive has been in place for over 10 years and can have not moved to exploit obvious opportunities.

Credit Corp and Pioneer are value adding by leveraging their access to customers and cross selling alternative credit products.

CLH are not, and just see themselves as debt collectors/buyers. I question if they still see themselves as debt buyers (investors in risk adjusted assets) given the recent development with Balbec. If CLH fancied themselves as debt buyers, why would they be giving up 90% of the action to a JV partner???

Perhaps the answer to that lies in their inability to fund future debt purchases demonstrated by their overstretched balance sheet, DRP, increased debt and regular capital raisings. Costs and staff numbers are high relative to revenue, performance and peers. I cant see any reason at all to invest.

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15%+ rises in revenue and profit year on year for the last 5 years?

CLH Price at posting: $2.24 Sentiment: Buy Disclosure: Held
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