Business Services Industry
Debt collector squeezed.
Australasian Business Intelligence, June, 2003
Jun 24, 2003 (Herald Sun - ABIX via COMTEX)
Debt collection company, Collection House, has downgraded its profit forecast. Net profit for 2002-03 is expected to be between $A8 million and $A9 million. Upon announcing the company's third downgrade in five months, its shares fell by $A0.21, but revived slightly to close at $A1.18. Restructuring and litigation was blamed for the poor performance. The company has also lost some sub-contracted business from Westpac and the National Australia Bank. Nevertheless, the company is in a strong position and expects growth in its purchased debt portfolio business.
Publication Date: 25 June 2003
COLLECTION HOUSE LIMITED - ASX CLH:
NATIONAL AUSTRALIA BANK LIMITED -
ASX NAB:
WESTPAC...
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