Latest News

Appointment of a Director

24/09/2014

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

11/09/2014

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

21/08/2014

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

27/06/2014

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

29/04/2014

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

17/02/2014

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

Final CCV Notice of AGM 2013

17/10/2013

Notice is hereby given that the Annual General Meeting of Cash Converters International Limited ("Company") will be held at 10.00am (WST) on Wednesday 20 November 2013 to be held at The Pan Pacific Hotel, 207 Adelaide Terrace, Perth, WA 6000 - For further information click here

Cash Converters Response to Class Action Claim

10/10/2013

Cash Converters International Limited ("the Company") refers to press reports concerning a potential class action relating to micro-lending in New South Wales. For the full response click here

Carboodle Announcement

23/09/2013

Cash Converters International Limited (“the Company”) is pleased to announce that it has today
exercised its right under the terms of a Redeemable Preference Instrument to convert a $4 million
dollar loan to 80% equity in the company Green Light Auto Group Pty Limited, trading as Carboodle. Click here to read the full Carboodle Accouncement.

Successful Issue of $60m Australian Dollar Notes

19/09/2013

Cash Converters International Limited (“Cash Converters”) is pleased to announce it has today completed the issue of $60 million of medium term notes with a fixed coupon rate of 7.95% per annum maturing in September 2018. FIIG Securities Limited acted as the lead arranger for the note issue.
 
The Managing Director of Cash Converters, Mr Peter Cumins said:
 
 “We are very pleased with the successful outcome of our unsecured note issue which was well supported by professional and sophisticated investors and with some institutional support. Our relationship with Westpac Institutional Bank is still very strong and they have been very supportive of the process we went through to achieve the note issue. The additional funds are earmarked for strong growth opportunities within the business including the acquisition of further franchised stores and the growth of our loan books.”
 
For information on the terms and conditions of the note issue please click here to access the Information Memorandum.