Annual Report 2014
Sydney, Oct 20, 2014 AEST (ABN Newswire) - Cash Converters International Ltd (
ASX:CCV) provide the Annual Report for 2014 with the following significant highlights.
- Strong revenue growth up 21.6% to $331.7 million
- Online loans strong growth continues in Australia with $55.8 million of loans written (2013:$28.4 million)
- Store operations - earnings before interest, tax, depreciation and amortisation up 71.6% to $15,615,352 (2013: $9,100,109)
- Installment personal loan book in Australia rises by 19.3% to $109.2 million (2013: $91.5 million)
- New micro-credit rate cap came into effect in Australia from 1 July 2013
- Rate cap impacted loan volumes in first half, particularly cash advance, however, upward trend in volumes has started in the second half
- Normalised earnings before interest, tax, depreciation and amortization (EBITDA) slightly down by 1.9% to $56,894,363 (2013:$58,042,085) following new micro credit legislation in Australia
- Financial services - administration, earnings before interest, tax, depreciation and amortisation down 26.7% to $10,410,310 (2013: $14,196,639)
- Financial services - personal loans, earnings before interest, tax, depreciation and amortisation tax down 6.2% to $39,835,270 (2013: $42,460,724)
- Franchise operations - earnings before interest, tax, depreciation and amortisation, slightly higher by 3.9% at $6,633,516 (2013: $6,387,128)
- Fully franked dividend for the year of 4.0 cents
- Corporate store network in the Australia expands to 64 stores with 58 stores in the UK
To view the annual report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-CCV-695444.pdf
About Cash Converters International Ltd
Cash Converters International (ASX:CCV) is a franchised retail network listed on the ASX. It specialises in the sale of second-hand goods. The Cash Converters group employs modern retailing practices, professional management techniques and high ethical standards to the management of its stores throughout the chain which appeal to a wide cross section of the community. As a result, Cash Converters has been able to position its outlets as credible retail merchandise stores, resulting in a profitable market for the group.
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