Latest News

Completion of Settlement to Terminate Agency Agreements


Cash Converters International Limited (“Cash Converters”, or “the Company”) is pleased to announce that it has today settled the termination of the agency agreements (“Licences”) with development agents Kentsleigh Pty Ltd and Cliffview Pty Ltd (“Development Agents”). This transaction was announced to the ASX on 27 November 2014.

The termination of the Licenses will provide Cash Converters with a number of benefits including the reduction in expenses with the elimination of commissions paid to the Development Agents on cash advance and personal loan lending products and an improvement in cash flow going forward.


Ralph Groom - Company Secretary

Green Light Auto Partnership with FleetPartners


Cash Converters International Limited is pleased to announce, that its wholly owned subsidiary, Green Light Auto Group (“GLA”), trading as ‘Carboodle’, has entered into an partnership agreement with FleetPartners for the provision of high quality fully maintained end of lease vehicles for re-lease to Carboodle’s customers. 
Click here to read the full announcement. 

New Director Appointed


Cash Converters International Limited advises that Mr David Carter will join the board of directors with effect from 1 December 2014. Mr Carter has been an international partner of one of the world’s largest law firms and has extensive legal and management experience. 
The Chairman of Cash Converters International Limited, Mr Reginald Webb said: “David’s appointment is very timely, since the Board have been seeking a suitable candidate for some time. With knowledge of both the financial services and franchise industries, David’s appointment will immediately add to the combined experience of our Board. We look forward to him joining from 1 December and I have no doubt David’s appointment will add to the quality candidates who have recently joined the Board of Cash Converters”. 
Click here to read the full announcement. 

Notice of Annual General Meeting 2014


The Annual General Meeting of Cash Converters International will be held on Wednesday 19th November at 10am (WST) at the Pan Pacific Hotel, 207 Adelaide Terrace Perth.

Full Details attached (PDF).

Appointment of a Director


Cash Converters advises that Mr Stuart Grimshaw will join the board of directors with effect from 1 November 2014. Mr Grimshaw's appointment completes the director representative changes made by EZCORP Inc to the Board of the Company.

Please see the attached for full details of Mr Grimshaw's experience (PDF).

Carboodle enters Referral and Broker Agreement with Aussie Car Loans


Cash Converters International Limited (“the Company”) is pleased to announce that its subsidiary,
Green Light Auto Group (GLA), trading as Carboodle, has entered into a Referral Agreement and a
Broker Agreement with Australia’s leading online car finance broker, Aussie Car Loans.
Under the Referral Agreement, customers that fall outside of the lending matrix criteria for Aussie Car
Loans panel of lenders, can now be referred to GLA and access the financial service products offered
by Carboodle.
Carboodle is a licenced motor vehicle dealer providing customers who don’t have access to
mainstream credit with a reliable and well maintained car (retail and commercial) via a lease structure
which incorporates most of the vehicle’s running costs.
Furthermore, under the Broker Agreement, GLA will have access to Aussie Car Loans panel of lenders.
This will enable GLA to offer a wider variety of finance options and products to its customers and open
up a new market segment not previously covered by the Carboodle product.
Aussie Car Loans is an independent, national finance and insurance brokerage that provides
competitive interest rates and terms through a broad range of lenders for the purchase of a large
selection of different vehicles.
Managing Director of Cash Converters, Mr Peter Cumins said, “It’s a very exciting opportunity for us
to accelerate the growth rate of the Carboodle business. Aussie Car Loans is a very well known and
successful brand and this deal is a great fit for both Companies”.
Managing Director of Aussie Car Loans, Mr Joe Martinovic said, “I’m looking forward to working closely
with the team at Carboodle. This new relationship will give our clients and Carboodle’s clients more
choice and flexibility”.

Strong Second Half Performance


The 2014 financial year was marked by contrasting halves where we experienced a strongly
improved second half following the transitory period that impacted the first half due to the
implementation of the new micro credit regulatory requirements in Australia. Cash Converters
International Limited (“Cash Converters”) reported revenue growth of 13% in the second half of
FY14 compared to the first half and net profit after tax growth of 45% in the second half.

Strong Second Half Performance
As previously disclosed, the first half result of FY14 was impacted by the effect of the transition
to new micro credit regulatory requirements in Australia. Whilst the normalised annual EBITDA
result for FY14 is marginally down on the previous year, it is pleasing that there has been an
upward trend in the second half. The EBITDA second half result was up 37.5% on the first half
and indications are that growth will continue into the 2015 financial year.

For full details please see the Chairman and Managing Directors Review for the 2014 FY and Appendix 4E.

Acquisition of Three Queensland Stores


Cash Converters International Limited (“Cash Converters”) is pleased to announce that it has finalised the acquisition of three franchised stores in Queensland. These acquisitions will take the number of corporate owned stores in Australia to 64 with 59 stores in the UK. 
Click here to read the full announcement. 

Third Quarter Trading Sees Profit Up 38.3% from Last Year's Third Quarter


Cash Converters International Limited is pleased to provide the following trading and performance update based on the third quarter unaudited management accounts for the 2014 financial year. The normalised EBITDA profit for the quarter ending 31 March 2014 was $15.9 million, up 38.3% on the corresponding third quarter last year (2013 third quarter: $11.5 million). This strong result reflects the continuing upward trend reported at the half year. Click here to read the full Trading Update. 

Half-Year Results 31.12.13


Cash Converters International Limited is pleased to report a growth in revenue of 15.5% to $155.8 million. The normalised EBITDA profit for the period was $24.9 million, down 20.3% on the previous period.

As previously discolosed in the Trading Update released to the ASX on 31 October, 2013 the first half result has been impacted byt the effect of the transition to new regulatory requirements in Australia. Whilst the result is disappointing, it was pleasing that the second quarter EBITDA result was up on the first quarter. This upward trend should continue in the second-half following a record breaking December lending performance in Australia for both the Personal Loan and Cash Advance products.

Full details can be found in:

Chairman and Managing Directors Address 31.12.13

Half-Year Report 31.12.13

Appendix 4D 31.12.13