I'll try to do an estimate :)The company has put an estimate on...

I'll try to do an estimate

The company has put an estimate on FY19 EPS of 19c to 20c per share (fully diluted (189m shares) for all the options outstanding 36m NPAT is about 19c EPS), although doesn't that seem conservative given the loan book is now well over 323m and added 15m in the first quarter? ROC is about 12%... so NPAT should come in the high 30s given likely more growth of loan book throughout the year. The company reaffirmed guidance so I guess I'm way off there because I would have thought this should upgrade.

For FY20, you could back out the SACC/online division and estimate that loan book re-invested in personal and car loans, and just assume MNY's capital earning mostly car loan/broker and stagnant branch division. I think the branch network could be transitioned to just high interest personal loans, those within the mainstream credit cap and MACC loans, avoiding SACC loans.

I reckon FY20 could be starting with a gross loan book of circa 370m, with still around 50m in funding headroom, as about 15m in retained earnings used in FY19 combined with cash on hand. In the Q1 update, 15.6m was added to the gross loan book comprising of 12m in funding (cash for funding dropped 12m) and 3.6m in retained earnings. Just from a standing start and assuming a return on capital/loan book of around 12%, NPAT would jump considerably to about 44.5m (23.5c EPS and 23% growth over FY19 ), notwithstanding the likely continued growth of the loan book with 50m in loans and about 20m in retained earnings to draw on throughout the FY20. So, there is upside to that EPS figure as well.

Maybe I'm being to optimistic here... but seems fairly sound if you just apply similar margins to the increased loan book. Naturally some recession event or new regulation etc could change things.