I would like to take this opportunity to discuss the firm I was assigned. My allocated firm is Credit Corp Group and their annual reports can be found in the links below:
Credit Corp Group Ltd is an Australian company and they are known for being the largest contributor of sustainable financial services within the credit impaired consumer segment. Basically, they specialize in debt purchase and collection services. So, more specifically, what they do it buy overdue debts from consumers and businesses from the major banks, utility providers, telecommunications and finance companies. Each of these major centers is located within New Zealand, United States of America and Australia. It was founded in the year 1992 and has already made huge revenue of 191.1 million AUD! Thus, I am confident to say that it is definitely a successful business. Furthermore, they have a net income of 38.4 million AUD and their total assets are 274 million AUD. These statistics had me quite shocked, as the figures are a lot larger then expected. The aim of the firm is to responsibly help customers by agreeing to an affordable repayment, improving their credit over time while they remain active within the community. When I read these statistics from their company website I was absolutely astonished! You can find their website in the link I have provided below:
Furthermore, their current stock price is $17.29.
Some key individuals who are very important to the company include: Donald McLay (Chairman, NE Director), Thomas Beregi (CEO), Eric Dodd (NE Director), Leslie Martin (NE Director) Robert Shaw (NE Director), Richard Thomas (NE Director), Matthew Angell (COO), Michael Eadie (CFO).
They are facing many challenges and they have come up with several strategies. I have mentioned this in my assignment. I read through the following news links to find information regarding what faces them as a firm: