Financial Report for the Year Ended June 2014
Perth, Sep 12, 2014 AEST (ABN Newswire) - Although the year has been difficult with an interest rate cap commencing in Australia on 1 July 2013, which impacted both margins and volumes, the Company has achieved earnings before tax, depreciation and amortisation (EBITDA) of $48,541,360 (before minority interests), down 14.9% on the prior year. After adjusting for minority interests the EBITDA increased to $51,601,404.
This result has been derived from a 21.6% growth in revenue, up $58,946,188 to $331,668,907. The majority of the revenue increase has been contributed by the corporate store segment, increasing by $35,846,048 and the personal loan segment with revenue increasing by $24,396,109. The vehicle leasing business contributed $8,740,241 in revenue this year following the acquisition of 80% of the equity of Green Light Auto in September 2013.
The result generated earnings per share of 5.67 cents. The directors have declared a two cent per share final dividend. This brings the full year dividend to four cents fully franked.
To view the full report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-CCV-690983.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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