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Scottish Pacific Group Provides CEO's Speech to 2016 AGM

21 Nov 2016  |  07:05:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Chief Executive Officer's Speech to 2016 AGM

Scottish Pacific Group provided CEO's address to AGM. The CEO reported that, with the funding diversification complete, the Company ended up with three warehouses, two of which are long-term relationships, some new mezzanine debt and a corporate facility. The Company also introduced three new funders to the group. New referral agreements with two banks, are already showing positive signs. The client numbers have grown to over 1700, the funds outstanding to clients is over $800m. Net Revenue is below expectations at this point in the Company's financial year. It expects to produce PBIT of $40.7m and NPATA of $30.8m for the year ended 30 June 2017 compared to the Prospectus forecasts of $44.9m (PBIT) and $31.8m (NPATA).

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