Brief: Credit Corp Anticipates Impairment Of Carrying Value Of Its US Purchased Debt Ledger Assets

Credit

18/10/2023 02:19

Oct 18 (Reuters) - Credit Corp Group Ltd  CCP.AX :
    * ANTICIPATED IMPAIRMENT OF CARRYING VALUE OF ITS US
PURCHASED
DEBT LEDGER ASSETS
    * IMPAIRMENT WILL LIKELY BE REFLECTED IN INTERIM FINANCIAL
STATEMENTS FOR PERIOD ENDING 31 DECEMBER
    * IMPAIRMENT IS ESTIMATED TO PRODUCE A ONE-OFF REDUCTION IN
NET
PROFIT AFTER TAX OF A$45 MILLION
    * IMPAIRMENT WILL REPRESENT 14 PER CENT OF CARRYING VALUE OF
US
PDL ASSETS INCLUDED IN COMPANY'S 30 JUNE 2023 ACCOUNTS
    * PURCHASING COHORTS MOST AFFECTED COMPRISE OF ASSETS
ACQUIRED IN
FY2022 AND FY2023
    * REDUCING GUIDANCE FOR US SEGMENT NPAT BY A$10 MILLION

Source text for Eikon:  ID:nASX1nLsZB 
Further company coverage:  CCP.AX 

 ((Reuters.Briefs@thomsonreuters.com;))