CLH REPORTS SOLID GROWTH

CLH REPORTS SOLID GROWTH

COLLECTION House Limited (ASX:CLH) is continuing its upward trend, today reporting a growth in earnings for the first half of fiscal 2014, despite heavy investments in growth strategies.

The receivables manager reported a 16.2 per cent increase in net profit after tax (NPAT) from the previous period, raising the figure to $9.4 million.

Managing director and CEO Matt Thomas says growth came from diversified sources, including purchased debt ledgers and collection services.

Total revenue from ledgers, combined with that of collection services, improved period on period by 10 per cent to $52 million.
Collection services revenue improved most significantly, by 14.4 per cent, which Thomas attributed to “investments in people and client engagement during 2013”.

On the other hand, debt ledger revenue grew 6.5 per cent – which was noted as significant considering the ongoing overhaul of a CLH software platform.

CLH has reported it is on track for the remainder of fiscal 2014, anticipating its new software upgrade to deliver its first measurable results over the coming months.

With its half year release, CLH also reported an interim fully-franked dividend of 3.9 cents per share, an increase of the previous interim dividend of 3.6 cents.

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