Business Services Industry

Debt collection pays for Packer.(Kerry Packer, Consolidated Press Holdings Ltd.)(Brief Article)

Australasian Business Intelligence, March, 2005 by Murray, Lisa

Mar 06, 2005 (The Sydney Morning Herald - ABIX via COMTEX)

US debt collection agency, Encore Group, is making money for Australian investor, Kerry Packer. His private company, Consolidated Press Holdings (CPH), owns 17 per cent of the San Diego firm. On 4 March 2005, it reported a net profit for 2004 of $US23.2 million ($A29.6 million). This is 26 per cent up on the previous year. In January, CPH sold a quarter of its stake in Encore, making more than $US23 million. It initially invested about $A10 million. Encore buys bad debts from US credit card companies.

Publication Date: 7 March 2005 

CONSOLIDATED PRESS HOLDINGS LIMITED:

ENCORE CAPITAL GROUP INCORPORATED:

UNITED STATES. SECURITIES AND

EXCHANGE COMMISSION:...

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