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Pepper Money Ltd ( (AU:PPM) ) has issued an update.
Pepper Money Ltd reported a mixed financial performance for CY2024, with a 9% increase in profit pre-tax and loan loss expense, despite a 10% decline in statutory NPAT compared to the previous year. The company achieved a 16% increase in originations in the second half of 2024 compared to the first half, although full-year originations were down by 3% year-on-year. The net interest margin improved by 12 basis points to 1.97%, and the company declared a fully franked final dividend of 7.1 cents per share, reflecting a significant increase in the annualized yield. Despite challenges such as increased loan loss expenses due to late-stage arrears and insolvencies, Pepper Money remains well-funded with unrestricted cash reserves to support future growth.
More about Pepper Money Ltd
Pepper Money Ltd operates in the financial services industry, offering a range of products including mortgages and asset finance solutions. The company focuses on providing flexible lending solutions to a diverse customer base, with a strong emphasis on growth and market resilience.
Average Trading Volume: 156,674
Technical Sentiment Consensus Rating: Sell
Current Market Cap: A$616M
For an in-depth examination of PPM stock, go to TipRanks’ Stock Analysis page.