Credit Corp announced FY2022 results

Credit Corp Group Limited (ASX: CCP) has reported a 9% increase in NPAT to AU$96.2 million in FY2022 for period ended 30 June 2022.

During the period, there was a record annual investment. It includes:

• US purchased debt ledger (PDL) outlay 80% above previous peak (FY2020).
• Gross lending volume 24% above previous record (FY2019).

US segment NPAT increased 16%. PDL supply in the core AUS/NZ debt buying market did not recover. Collection growth was achieved from purchases of the Radio Rentals and Collection House New Zealand books.

Major Developments:

• Credit Corp achieved several important milestones to secure long-term growth in the consumer lending segment. The relaunched auto loan offering produced solid growth.
• Pilots began in BNPL and US lending.
• Additional new products reached the final stages of development in FY2022.

In FY2022, CCP will pay a final dividend of 36 cents per share.

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