Australia's Pepper Money gains on strong half-year earnings

Pepper Money

24/08/2021 02:27

** Shares of Pepper Money Ltd  PPM.AX  rise as much as 3.3%
to A$2.685, their biggest intraday pct gain since Aug 13
    ** Pepper Money, which specialises in consumer lending and
mortgages, says half-year net profit after tax (NPAT) from
continuing operations rose 41.1% to A$56 mln ($40.34 mln) from a
year earlier  urn:newsml:reuters.com:*:nASX3QvnvT
    ** PPM posts HY mortgage originations of A$3.7 bln, up 40.4%
from a year ago and beating RBC estimates of A$3.4 bln 
    ** "The key focus for us is the credit performance, with
PPM's loan book in good shape with the provision coverage
remaining consistent," RBC says
    ** Stock at its highest since Aug 17
    ** PPM stock down 5.2% since its market debut in late-May
this year, as of last close

    ($1 = 1.3881 Australian dollars)

 (Reporting by Harish Sridharan in Bengaluru)
 ((harish.sridharan@thomsonreuters.com))