Can't help but sense this sector is a bit of an avoid for the fundies. The sector is under even more scrutiny than normal at the moment. Not the sort of enviroment fundies are going to buy up. I don't see any likely regulatory changes as having to much of an effect on Mny. Mny lend money to people the banks won't touch. The rates are substantially higher for the risk. Not an unreasonable proposition. Hardly a business enviroment where competition is intense.
Mny's growth in the medium term loans has been great. The short term loan book has been a bit static . Maybe those Centrelink loans have eased off and been replaced with other customers. Anyway I think there still is future growth in the short term loan part of the business. The banks have moved away from the battlers. They still want credit. Not all of them are high risk. Under the reign of the previous ceo there were quite a few investor presentations. We don't see that any more. Probably the right desiciion , while the sector is under political consideration best not to spruick how profitable you are. The current share price is about in the middle of the 12 month high and low. I reckon it's worth a $ more than its trading at. The market doesn't agree.
MNY Price at posting:
$1.37 Sentiment: Hold Disclosure: Held
