Latest News

2012 AGM Announcement

19/10/2012

Notice is hereby given that the Annual General Meeting of Cash Converters International Limited ("Company") will be held at 10.00am (WST) on Friday 16 November 2012 at:

The Pan Pacific Hotel

207 Adelaide Terrace

Perth Western Australia 6000

For full details, an explanatory statement and proxy form please see the attached PDF.

First Cash Converters Franchised Store Opens in Dubai

5/09/2012

Cash Converters International Limited is very pleased to announce the opening of the first Cash Converters store in Dubai during August. The store is being opened by the Cash Converters Licensor in the United Arab Emirates (UAE), Bartergo General Trading LLC.

Click here to find out more.

Record profit $29.4million for 2012 Financial Year

23/08/2012

The directors of Cash Converters International Limited (‘Cash Converters’) are pleased to report a growth in revenue of 25.7% to $234.3 million and a record profit result of $29.4 million for the 2012 financial year, an increase of 6.2% over the previous year.

Highlights

• Revenue growth of 25.7% to a record of $234.3 million.
• Record net profit after tax of $29.4 million, up 6.2%. On an adjusted basis, excluding one-off items, the net profit after tax was $32.6 million an increase of 9.8%.
• The statutory earnings per share were 7.75 cents per share (an increase of 6.5%) and the adjusted earnings per share were 8.58 cents per share (an increase of 9.8%).
• The personal loan book in Australia grew 28.0% to $67.6 million and the loan book in the UK grew 154.0% to £12.7 million.
• The personal loans business generated an EBIT of $33.5 million (2011 $24.4 million) which is 37.1% up on the previous year.
• The growth of the online personal loan business in Australia continues to be very strong with the value of loans written up 126.7% to $14.2 million (2011 $6.3 million).
• The cash advance administration platform in Australia and the UK, generated an EBIT of $13.6 million (2011 $12.3 million) up 10.8%.
• UK cash advance and personal loans business up 285.7% to a combined EBIT of $4.6 million, an outstanding result for a business launched in May 2010.
• 12 ‘greenfield’ company owned stores were opened in the UK and one in Australia, taking total corporate store numbers as at 30 June 2012 to 102 (59 in the UK and 43 in Australia).   

For a full copy of the Media Release (Word) Click here. Or for the Chairman and Managaing Director's Address (PDF) click here.

 

The UK Presents an Opportunity

26/07/2012

CCV has outperformed the Small Ordinaries index by 38% since CY12. Octa Phillip Financial Group believe this is a result of the market understanding the impacts of changes to the National Consumer Credit Protection Act on CCV’s core business.
 

Octa Phillip forecast ~15% EPS growth in FY13 driven by continued growth in CCV’s store network and loan books. Growth is expected to moderate in FY14 due to the changes in the regulations mentioned above.

Click here to read the full report.

 

CCV Interim Results Investor Presentation Report

12/03/2012

The Company is pleased to report an increase of 28.2% in revenue to $111.7 million and a net profit after tax of $13.2 million for the period. Although the result represented a decrease of 7.5% on last year’s net profit, on an adjusted basis, excluding one-off items, the net profit after tax was $15.3 million compared to a net profit of $14.3 million in the corresponding period last year representing an increase of 7%.

Click here to read the full report.

Half Year Financial Report 31 December 2011

16/02/2012

The Company is pleased to report an increase of 28.2% in revenue to $111.7 million and a net profit after tax of $13.2 million for the period. Although the result represented a decrease of 7.5% on last year’s net profit, on an adjusted basis, excluding one-off items, the net profit after tax was $15.3 million compared to a net profit of $14.3 million in the corresponding period last year representing an increase of 7%.

Click here to read the full report.

Parliamentary Joint Committee Recommendations

6/12/2011

Cash Converters International Limited (“CCV”) welcomes the recommendations made by the Parliamentary Joint Committee on Corporations and Financial Services in its report on the phase II reforms proposed by the Government as set out in the CONSUMER CREDIT AND CORPORATIONS LEGISLATION (ENHANCEMENTS) BILL 2011.

Click here to read the full announcement.

Managing Directors Address AGM 2011

16/11/2011

The directors are pleased to report a record profit of $27.6 million for the 2011 financial year, an increase of 27.5% over the previous year and our sixth consecutive record performance.

Further highlights for the year were:

• Revenue growth of 47.6% to $186.1 million. The major drivers for revenue growth over the year included an increase in personal loan interest of $12.2 million and establishment fees of $5.0 million, an increase in corporate store revenue of $38.3 million and an increase in financial services commission of $4.8 million.

• The franchised store acquisition strategy maintained momentum with the acquisition of 21 franchised stores during the financial year (six in the UK and 15 in Australia). In addition, 14 ‘greenfield’ company owned stores were opened in the UK and one in Australia, taking total corporate store numbers as at 30 June 2011 to 88 – 46 in the UK and 42 in Australia. Since the year end a further 6 Greenfield corporate stores have opened in the UK taking their store numbers to 52 and total numbers to 94.

• The corporate store network in the UK and Australia has seen revenues grow by 61.3% to $100.9 million producing a combined EBIT of $8.6 million (up 24.7% on 2010), with only a part year contribution from 21 staggered store acquisitions.

• The personal loan book in Australia grew 36.1% to $52.7 million and the loan book in the UK grew 746% to £5 million. The personal loans business generated an EBIT of $24.4 million (2010 $15.4 million) which is 58.6% up on the previous year.

• The cash advance administration platform in Australia and the UK, generated an EBIT of $12.3 million (2010 $9.1 million) which is up 35.6% on the previous year.

• The UK franchised business performed strongly and contributed an EBIT of $2.1 million. Store numbers (company owned and franchised) grew by a record 37 stores to 194 stores. Since the year end store numbers have grown to 204.

• The sub-master licence for Scotland was acquired on 2 December 2010. There are currently ten franchised stores in Scotland contracted to pay weekly fees which total £188,000 per annum. It is this income stream that the company has acquired from the sub-master licence holder, plus the rights to develop the Cash Converters store network in Scotland to its full potential, which is anticipated to be approximately 60 stores in total.
 

Click here to see the full announcement [PDF].

 

AGM Proxy Summary

16/11/2011

Please see attached the Proxy Summary from the 2011 AGM for:

Election of a Director - Mr William Love 

Election of a Director - Mr Joseph Beale

Remuneration Report

Completion of Migration

4/11/2011

Transfer of Listing Category

Further to the announcement released to ASX and LSE by Cash Converters International Limited (“CCIL”) on 6 October 2011 announcing that the resolution to complete CCIL’s migration from its listing on the Premium segment of the Official List of the UKLA to the Standard segment (the “Migration”) was approved, we are pleased to announce that the Migration has been successfully completed.

Click here to read the announcement.