The directors of Cash Converters International Limited (‘Cash Converters’) are pleased to report a record profit result of $27.6 million for the 2011 financial year, an increase of 27.5% over the previous year.
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- Cash Converters and EZCORP form strategic alliance to develop financial service products
- The alliance provides Cash Converters leverage to new markets
- The alliance includes EZCORP acquiring 30% of Cash Converters issued capital that it does not already own
- Offer price of A$0.91 per unit represents a premium of 16.6% to the Cash Converters
- 3 month VWAP and a premium of 9.6% to the last closing price of A$0.83 per unit
Cash Converters International Limited is pleased to report the following Half-year ended 31 December, 2010 results to the market:
- Revenues from ordinary activities up 48.3% to $87,919,206;
- Profit from ordinary activities after income tax expense up 42.2% to $14,311,248;
- Profit from ordinary activities, after tax, attributable to members, up 42.2% to $14,303,963;
- Basic earnings per share of 3.8 cents, up 8.6% on last years figure of 3.5 cents;
- The directors of the Company recommend an interim, fully franked dividend, of 1.75 (one and three quarter) cents per share to be paid on 31 March 2011 to those shareholders on the register at close of business on 17 March 2011.
Please click here to see the full announcement and Financial Report for the half-year ended 31 December, 2010.
The Australian Financial Review, Friday January 7, 2011 reported "Shares in Australia's largest pawn shop chain have more than recovered all their losses from the financial crisis as they retested a near three-year high of 73.5 cents on Wednesday."
The year to 30 June 2010 has been the most successful in the Company’s history, with a record net profit after tax of $21.6 million, up 34.2% on the previous year. Click here to read the full details in the Managing Director's address at the 2010 AGM held on Tuesday November 30th.
Cash Converters International (ASX:CCV) update
15 November 2010, Cash Converters International (ASX:CCV) MD, Peter Cumins provides an explanation of the size of the operation and its move into cash advances and personal loans.
Click on the link below to see the full interview with Clive Tompkins.
Cash Converters is pleased to announce the opening of its 600th store in the Kent Town of Sidcup in the UK.
Congratulations to franchisees Paul Saunders and Paul Brisenden on being part of such a significant
milestone for the Company. The store opened successfully despite the heavy snow and icy
conditions being experienced in the UK. This opening takes total store numbers in the UK to 173 of
which 33 are corporate owned stores.
Cash Converters UK CEO, David Patrick, said “Following the opening of this new store in the UK our
global network now comprises of 600 stores across 18 countries with a total of 72 corporate owned
stores. There is still a significant opportunity for us to continue growing the business through new
store openings and rolling out our financial services products”.
The directors of Cash Converters International Limited (Cash Converters) are pleased to report a record profit result of $21.6 million for the 2010 financial year. Please see the attached for the Annual Report and the Group accounts for the financial year ending 30 June 2010 [PDF].
RESULTS FOR ANNOUNCEMENT TO THE MARKET
- Revenues from ordinary activities up 34.8% to $127,787,778;
- Profit from ordinary activities after tax up 34.2% to $21,676,163;
- Net profit attributable to members up by 33.8% to $21,629,922;
- The directors of the Company paid a fully franked interim dividend of 1.5 (one and a half) cents per share on 31 March 2010. The directors have also declared a final fully franked dividend of 1.5 (one and a half) cents per share to be paid on 30 September 2010 to those shareholders on the register at the close of business on 16 September 2010;
- Cash Converters is targeting a NPAT for the 2011 financial year in the range of $27 - $27.5 million – an increase of approximately 27% on this years result.
For the full release please see attached [PDF] Appendix 4E for the year ended 30 June 2010.