Solid report, I have been watching intently throughout the year. I believe they are poised well for significant growth over the next 1-2 year period. Loan book up 35% is considerable, the personal finance (SACC & MACC) arm had $48.8M in revenue at a 44.8% margin ($21.86M EBITDA)...
So an increase quarter on quarter of 15% (conservative) would give a boost of $3.3M to overall EBITDA (48.8*1.15*0.448 = $25.1M)... This would flow almost directly onto profits... Hence 100% agree a sustained dividend of >3CPS is definitely on the cards for FY19... I bought in November and considering topping up more...
I really like that no dividend has been announced for two reasons 1) it will give me a chance to buy more over the next 6 months and 2) provides a rock solid base for the company to expand from, with plenty of balance sheet leverage which will allow us to sustain higher quarter on quarter growth in the future. Next 3 years looking very bright.
CCV Price at posting:
37.5¢ Sentiment: Buy Disclosure: Held
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