Leading Australian receivables manager Collection House
Limited (ASX Code: CLH) has secured debt purchase agreements
tendered during the six months to 31 December 2011 with an
estimated investment value of
$A61M.
The $61M of commitments to purchased debt ledgers
("PDLs") in the first half of FY12 already exceeds
the total PDL investment of A$49M in the full FY11 period.
CLH has previously advised an FY12 PDL investment target of
$60M - $70M.
"Securing the majority of our FY12 target in the first
half leaves us well placed to increase revenue in the second
half." said CEO, Matt Thomas. "We have experienced
pricing consistent with historic norms while supply levels of
consumer debt for sale appear plentiful, so we expect to be
able to purchase very selectively in the second
half."
Amongst PDL commitments made during the first half, five
contracts were with organisations which did not sell debt to
CLH in FY11, and two were first time sellers.
In an innovative development, consumer electricity and gas
accounts were purchased from an energy retailer, being a new
market for PDLs that CLH has been researching for some
time.
As an established market leader in contingent energy
collections, the purchase of energy debt is a logical market
opportunity and it is expected that this first Australian
energy PDL sale will lead to similar transactions for
CLH.
CLH also secured another first during the 1H12, being a
forward flow debt sale of Part IX insolvency debt.
The commission (contingent) collections segment has also
experienced growth during the first half, compared to the
previous corresponding period.
Collection House Limited is scheduled to report first half
results on 25 February 2012.
For more information please contact: Matthew Thomas
Chief Executive Officer Collection House Limited Ph: 07 3100
1245
Collection House - Overview
The Collection House GroupCollection House Limited | Debt collection and receivables management | |
Lion Finance Pty Ltd | Debt purchasing and recovery | |
Jones King Lawyers Pty Ltd | Legal services including insolvency administration | |
Midstate Credit Management Services Pty Ltd | Debt collection services, specialising in Local Government | |
Collective Learning and Development Pty Ltd | Credit management and related training services | |
Cashflow Accelerator Pty Ltd | Credit risk assessment and cash flow optimisation services | |
Founding Partner of Financial Basics Foundation | Financial Education for young people |
distribué par | Ce noodl a été diffusé par Collection House Limited et initialement mise en ligne sur le site http://www.collectionhouse.com.au. La version originale est disponible ici. Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2012-01-16 01:07:30 AM et restera accessible depuis ce lien permanent. Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité. |
Documents associés | |
CLH secured $61M of new PDL contracts in first half |