ASX 200 reporting season
Credit Corp achieves 16% profit increase despite market challenges
Credit Corp records profit increase, while Telix Pharmaceuticals faces new challenges and TPG Telecom progresses with major asset sales.
(AI video summary)
This video was created on 5 August for IG audiences by ausbiz.
Key financial results
Credit Corp (ASX:CCP)
Credit Corp reported a 16% increase in full-year profit to $94.1 million, driven by growth in its consumer lending division and United States (US) debt buying segment. The US division saw a 12% rise in collections and a 28% improvement in productivity, securing a $164 million investment pipeline for financial year 2026.
Despite market uncertainty, Credit Corp cites consistent collections over the past 18 months and expects more purchasing opportunities. Profit after tax in consumer lending rose 31% to $54.3 million, with the loan book growing 5% to a record $466 million. The company expanded to the United Kingdom (UK) and launched the Wizard digital credit card for diversified earnings.
TPG Telecom (ASX:TPG)
TPG Telecom is set to return up to $3 billion to shareholders following the completion of its sale of the fibre and network assets business to Vocus Group. The $5.25 billion sale generated net cash proceeds of around $4.7 billion for TPG. The company is offering minority shareholders the option to reinvest in new shares, aiming to raise an additional $688 million.
Telix Pharmaceuticals (ASX:TLX)
Telix Pharmaceuticals shares plummeted today after projecting higher operating expenses in the first half, hitting a one-year low. The company disclosed that its US operations have expanded considerably due to recent acquisitions, resulting in operating expenses of approximately 36% of revenue in the first half.
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