Pioneer Credit Ltd (ASX:PNC)
A$ 0.525 -0.025 (-4.55%) Market Cap: 70.71 Mil Enterprise Value: 237.85 Mil PE Ratio: 40.38 PB Ratio: 1.34 GF Score: 58/100

Half Year 2024 Pioneer Credit Ltd Earnings Call Transcript

Mar 01, 2024 / 12:00AM GMT
Release Date Price: A$0.375 (-5.06%)
Keith John
Pioneer Credit Ltd - Founder, Managing Director, Executive Director

(audio in progress) Thank you, Michael. And again, welcome to everyone to the Pioneer Credit Results presentation for the first half. We're particularly excited about where we are as a business and what we have in store for you today, but also in particular about the future of Pioneer.

In terms of our highlights for the first half, you'll notice cash collections were up 11%. That was an exceptional result and we're very, very happy with. That followed a 40% increase at the same time last year. So we've spoken repeatedly about the opportunity that exists in this market, the way that it's emerging for Pioneer, the amount of work that we've done over many, many years to position ourselves to take advantage of it, and we see that rolling through. So another very good performance of the cash collections line, up 11% to our highest ever.

Of course, there's no point doing that if we can't manage our costs, and we've done that very, very well. Again, $49.2 million at an EBITDA line, $17.9 million at an EBIT line.

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