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tommy
06-09-2004, 06:28 PM
I'm tempted to buy CCV shares but before taking the plunge and making a fool of myself, I would like to get a second opinion from much more experienced traders here!

Does anybody have an opinion on this company?

Challenger Financial Services has a stake in it, but I wonder whether this is of good value[?]

KD
06-09-2004, 09:44 PM
wait for it, wait for it - if I'm any good at guessing Robbo will have a full page of comments on CCV at any tick of the clock complete with a copy of these comments and newly found fonts :D:D..........

mark100
06-09-2004, 10:22 PM
Management did not seem very upbeat in their recent outlook although the stock seems fairly cheap fundamentally. I recently sold at 29c but may consider buying in the low 20's if it was to fall. The main driver of growth seems to be their personal finance division.

cheers
mark

mark100
06-05-2006, 06:44 PM
Might be worth watching again. Made an 8 year high on Friday

robbo
07-05-2006, 07:36 PM
Cash Convertors...(CCV)

Having overviewed the Anual Reports and the numbers....

and also the mgt credentials -- what credentials?

and from other sources.....

Would not PERSONALLY.... touch CCV with a Barge Pole....even a very ..... long barge pole...

Regards,

robbo:)

mark100
15-05-2006, 11:45 AM
Oh well, its up 19% since my post.

I don't really care how they make their profit, I was simply pointing out that they had made an 8 year high which in my opinion made it worth a mention

wns
03-01-2008, 11:46 PM
I recently bought some of these & they are one of my picks in the 2008 comp.

Current market cap is $92.4m at today's close of 38cps.

Directors estimate npat for FY08 of $14.5 to $15m, so currently on estimated forward PE of 6.2 - 6.4. NPAT for FY07 was $11.56m.

Should pay dividend of 3cps for FY08, so current dividend yield is 7.9% fully franked.

Net profit margin has increased for each of the last years, from 15% to 30%.

ROC and ROE were 17% and 17.1% respectively for FY07 on shareholder's equity of $68m.
This compares to 34% on shareholders equity of $8m for FY03, with shareholder's equity increasing and ROC & ROE generally decreasing between these years.

Share price has fallen from highs of 78c within the last year. I think this is mostly due to recent legislation limiting interest rates on micro-lending to 48% in most states. Taking this into account, the company has reiterated npat of $14.5-15m for FY08 and very conservatively $12m+ for FY09.

EBIT as at the end of October was $7.01m which puts them on track for their FY08 profit target.

The company has plans to purchase more franchised stores in the short - medium term, growing the number from 20 to 50. They purchased 13 stores in 2007. They expect to pay a multiple of 3-4 times EV to purchase franchise stores going forward, paying for the purchases using a combination of debt and capital. Currently have debt of just $1.5m with $14.75m cash in the bank as at June 2007.

They have 500+ stores in their network, operating primarily in Australia and the UK.

The company has recently announced that as of December 10th, for up to the next 12 months they will buy back up to 10% of their shares when considered appropriate.

Anyone else hold or follow CCV or have any thoughts they'd like to share?

STRAT
04-01-2008, 12:23 AM
The main driver of growth seems to be their personal finance division.

cheers
markWould their customers in this area be of similar calibre to all those defaulting on their sub prime loans :eek:

Steve
04-01-2008, 04:51 PM
Anyone else hold or follow CCV or have any thoughts they'd like to share?

Are the Cash Converter stores in NZ part of the same company, or is it like a franchise arrangement? The Dunedin Cash Converters is no longer Cash Converters...

wns
04-01-2008, 08:41 PM
Are the Cash Converter stores in NZ part of the same company, or is it like a franchise arrangement? The Dunedin Cash Converters is no longer Cash Converters...

Yes the Cash Converters stores in NZ are tied to CCV.

The company has 500+ stores in its network. CCV owns 20 of these stores, most are franchised, and quite a few are sub-franchised, whatever that means.

I had a look on their NZ website and Dunedin wasn't listed on their store locator.

STRAT - I suspect most of their customers don't even own a house. The company started when the founder opened the first store in 1984, so they've been in business for a long time. So I'm not too worried about the sub-prime situation in the US. They have a certain % of loans that don't work out, but this would always be the case.


For the period of a year, whether in $ terms or just on paper, I'd much rather own a company like this which actually makes a profit, rather than a highly speculative company with $0 revenues, that could go -90% or +500% in its SP.

STRAT
05-01-2008, 03:38 AM
STRAT - I suspect most of their customers don't even own a house. .Hi wns, Didnt actually mean that. More that every man and his dog is offering finance to people who cant afford it which seems to me to be symptomatic of the worlds credit woes in general.

yogi-in-oz
06-01-2008, 06:13 PM
:)

Hi folks,

CCV ... could well be strong this week, as a strong positive cycle is triggered, by a lunar
aspect on 07012008 and a minor cycle comes into play, around 11012008 ... which is also,
one year from the 2007 high, on 12012007 ... :)

..... in the meantime, there has also been a 50% retracement, in the CCV price.

happy days

paul

:)

=====

wns
10-01-2008, 01:22 AM
The company has recently announced that as of December 10th, for up to the next 12 months they will buy back up to 10% of their shares when considered appropriate.


The company started its buy back of shares in the last couple of days. About 207,000 shares, bought between 36.5 and 38c. Not big volumes, but a start.

wns
25-02-2008, 09:49 PM
Good results announced today. Making good progress.

Net profit after tax for the first half of $7.26m (EPS of 3c), on revenues of $35.94m.
This compares to npat of $11.56m on $38.6m revenue for FY07.

Interim dividend of 1.5c announced which is a 4.5% ff yield on today's close of 33c (up 10% for the day).

wns
31-03-2009, 10:40 PM
Up 13.85% today on relatively high volume. Over 1m shares changed hands.

Nearly back to where I bought them!

Another nice divi cheque in the mail shortly.

Snow Leopard
23-08-2012, 11:15 AM
Result out.

Headline NPAT is nothing special, but it looks very promising for the future.

Roll your own valuation, see if you can get $1 out of it. :p

best wishes
Paper Tiger

ratkin
19-11-2012, 01:08 PM
Anyone following this one?

They look to be going full steam ahead , the loans buisness in the UK going great guns , an with the recession/unemployment should be big demand for the short term loans.
Shops also been doing well and company appears to be going up a gear. Future looking bright

ratkin
20-11-2012, 05:02 AM
The following article gives an insight into the reason why this stock is taking off, the UK loan book is increasing dramatically, short term loans are now being used by many just to get from one payday to the next There was also an article in the daily mail a few days ago about the massive markup that cash converters shops are making on items sold to them.
As many of the highstreet chains close down , its buisnesses like cash comverters that are taking their place, rents are now cheaper and dmeand is now higher.
At the AGM it was said that "the future had never been brighter" (for cash converters)


The number of UK adults who think they are likely to seek a payday loan has risen almost 50% in the past 12 months, new research from R3 claims.

With the figure up from 3.5 million last autumn to 5 million today, the insolvency trade body suggests that the payday loan can no longer be regarded as a niche form of credit.
According to R3, when used to fill a genuine one-off gap in finances this type of loan has its place but increasingly payday loans are being taken on as a debt solution rather than a financial solution, with one in three unable to settle up on their first payday loan.
Uptake is more evident among 18 to 24-year-olds – 26% are likely to seek a payday loan in the next six months while just 4% of those aged 45 and over are likely to do so.

percy
20-11-2012, 12:18 PM
Thank for your posts Rakin I brought some this morning.
belgarion.Enough said??????.!!! lol.

Snow Leopard
27-11-2012, 12:46 PM
Share price heads South for an hour an half and then they request a halt "pending the release of an announcement in relation to a proposed capital raising".

percy
27-11-2012, 05:03 PM
Share price heads South for an hour an half and then they request a halt "pending the release of an announcement in relation to a proposed capital raising".


How nice.!!!! Why did they have to wait until after I brought in at 99 cents.
Buggar.!!! lol.

ratkin
27-11-2012, 05:26 PM
How nice.!!!! Why did they have to wait until after I brought in at 99 cents.
Buggar.!!! lol.

Yep , cant always get the timing right:(
As someone who bought for long term i dont see this as a problem , its just a sign the company is spreading its wings, and increasing its presence , probably better that they seek funds through an equity raising rather than taking on additional debt , its also better to be seeking additional capital from a position of strength rather than weakness.
In the long run its unlkely to make much difference if you bought at .95 cents or .85 cents

percy
27-11-2012, 05:48 PM
Yep , cant always get the timing right:(
As someone who bought for long term i dont see this as a problem , its just a sign the company is spreading its wings, and increasing its presence , probably better that they seek funds through an equity raising rather than taking on additional debt , its also better to be seeking additional capital from a position of strength rather than weakness.
In the long run its unlkely to make much difference if you bought at .95 cents or .85 cents

ratkin. Thank you for you informative post.I think I will enjoy being a long term holder in this company.From what I read prospects are excellent,and ratios are modest.

ratkin
27-11-2012, 07:48 PM
ratkin. Thank you for you informative post.I think I will enjoy being a long term holder in this company.From what I read prospects are excellent,and ratios are modest.

I have been known to get it badly wrong on occasion, hopefully this not one of them

ratkin
30-11-2012, 05:19 AM
Looks like the selloff was unwarrented.

There is to be a capital raising of 38.5 million at .85 cents per share , so hardly any dilution.
The offer was heavily oversubscribed with institutions very keen to jump aboard.
And with interest rates on short term loans running at over 300% it wont be difficult for them to put the funds
to good use , part of the money is going to bulk up the loan book , the rest on the franchise buisness

ratkin
30-11-2012, 11:44 AM
Up 7% upon resumption of trading , now its back in the spotlight should soon be having another crack at 1.00
Whoever it was dumping all that stock before the trading halt has ended up with egg on face

ratkin
30-11-2012, 03:46 PM
Pice going ballistic , up 14% today , smashed through the resistance at 1.00 , up ,up and away , Percy going be happy bunny now.

percy
30-11-2012, 06:35 PM
Pice going ballistic , up 14% today , smashed through the resistance at 1.00 , up ,up and away , Percy going be happy bunny now.

Very happy bunny.!!!!! Went to HNZ agm in Ashburton this afternoon,and that looks pretty good too.!!!

ratkin
14-02-2013, 01:40 PM
Cracking good result out today , onward and upward

percy
14-02-2013, 01:49 PM
Cracking good result out today , onward and upward

Very nice thank you.

Snow Leopard
02-05-2013, 06:59 PM
Has not been this weak for a year, looking at the end of the 12 month uptrend.

Best Wishes
Paper Tiger

drworm
02-05-2013, 11:28 PM
I'm actually thinking about topping up. I didn't see all that many good results during the half yearly, but CCV's was outstanding.

Snow Leopard
07-05-2013, 02:39 PM
I sold out completely yesterday.
Annualized gain was 99.89%, should have sold earlier for that magic 100+%

Best Wishes
Paper Tiger

winner69
10-10-2013, 12:26 PM
Greedy bastards charging exorbitant rates to the needy and making zillions because of it .... some would say they deserve anything that comes their way as a result of this class action

But good on them having shareholders interests at heart ... the more we charge to the needy the wealthier the shareholders come. Good on them

Todays action .... buying opportunity --- 30% off its highs

percy
10-10-2013, 01:35 PM
[QUOTE=winner69;431797]Greedy bastards charging exorbitant rates to the needy and making zillions because of it .... some would say they deserve anything that comes their way as a result of this class action

Yes , but I think you will find they are no win no fee lawyers.

winner69
28-01-2014, 01:59 AM
Opportunity for global expansion?


Fancy a pawn broker going broke

http://www.theguardian.com/business/2014/jan/27/pawnbroker-albermarle-bond-buyer-share-plunge

percy
28-01-2014, 06:15 AM
They used the pawnbroker business to buy gold and concentrated more as a bullion dealer.
With the price of gold falling they got it wrong.
Market cap going from over 200 mil quid to 4 mil quid shows just how wrong they got it.
Less competition for Cash Converters ?
Another good enjoyable article, thank you.

percy
30-01-2014, 01:44 PM
Had a look at Cash Converters Papanui store this morning.Nice well laid out store .A bike the same make and model my daughter brought for about $1200 was on sale for $399.Looked to be a busy store.
I noticed on the outside notice board one of the products they buy is scrap gold.!

steve fleming
03-05-2014, 12:06 PM
From Hartley's yesterday:

CASH CONVERTERS LIMITED (CCV)
They’re back
Cash Converters reported March quarter unaudited EBITDA of $14.5m(NPAT $7.2m). “Like-FY13” Q3 EBITDA was $15.9m, in line with ourexpectations. On a quarter-by-quarter basis, earnings momentum is nowstrongly positive. Q1 “Like-FY13” EBITDA was $11.9m and Q2 was$13.0m.
Importantly, the loan book in Australia continues to grow, which hashistorically been the main predictor for future profit growth.
Annualised personal loan EBITDA was $44.4m in Q3, which waspredominantly earned from a ~$117m loan balance (UK & Aust) at 31December, implying a return of ~38%. The headline return is significantlydiluted by the UK book. We estimate that Australian loan book returns areback to approaching 45-50% pa. This suggests that the Australianregulatory imposition has had very little long term impact on this part of thebusiness. It also suggest that predicting profit growth for this division (whichis by far the most significant division) can return to our rule-of-thumb that anadditional $10m of Australian loan book equates to $4-5m of additionalEBITDA in the following twelve months. The personal loan book in Australiagrew from $94.3m at December to $100.3m at the end of March (additional$6m of loans, suggesting ~$3m of additional EBITDA in FY15).
Corporate store profits in Australia were $4.6m (annualised $18.4m pa)suggesting that the payday short term loans product performance hasimproved significantly. CCV’s on-line rollout has been delayed, but weexpect it could be a significant contributor to FY15





Maintain Buy
The profit disruption from last year looks like it was a one off surprise andthe earnings predictability and high returns appear to have resumed. Wemaintain our Buy recommendation. On our estimates, CCV is trading on aFY15 p/e of 13.2x and EV/EBIT of 8.5x.

percy
03-05-2014, 05:59 PM
Thanks for posting that Steve.

NZSilver
04-05-2014, 05:19 PM
Cheers Steve,

I've been watching this one for months as it seemed undervalued but have been waiting sideline, however momentum seems to be positive both fundamentally and to my very limited skill set technically too. I finally hit the buy button last week and picked some up. Good underlying business, pays div and growth prospects locally Aus/Nz and internationally Mexico ect.

NZSilver
27-10-2014, 11:00 AM
Quarterly looks good

http://www.asx.com.au/asxpdf/20141027/pdf/42t63tz4pccs5t.pdf

Toulouse - Luzern
27-10-2014, 01:27 PM
Market likes it.

Plus 9.5%

NZSilver
15-01-2015, 10:45 AM
nice upward trend forming (hopefully), last few days has seen price move up - fundamentally looking good and there have been some well prices acquisitions of stores - ebit 3.7x