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Company News Summary

Flexi Group Provides Financial Overview

22 Jun 2017  |  14:06:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Financial Overview

Flexi Group advised on its financial update reporting about closing receivables, Cash NPAT, Return on Equity. The Company noted that the receivables forecasted in FY17 was $487m whereas steady state at scale is $1bn doubling of receivables balance through new product offering. The Company's NPAT forecasted was $10m and at scale was $35m which improved cost efficiencies driven by scale and technology. Return on Equity was above 20%. The Company has been working to ensure that any impact is limited with new facilities underway that will actually improve funding costs and reduce capital support. New funding facility is in progress that will allow for lower funding costs and lower capital support levels. Work commencing to structure term securitisations.

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