FlexiGroup Limited (ASX: FXL) provided a trading update in relation to its unaudited financial results for the year ended 30 June. The firm had committed wholesale funding facility headroom of $603 million, $145 million undrawn corporate debt facilities and unrestricted cash demonstrating net gearing of 29%.
- Transaction volumes stood at $2.5 billion across its continuing products in FY20, up 16% on FY19
- Unaudited cash NPAT is expected of $29 million for FY20 which includes a macro overlay provision of $31 million which relates to the likely effect of economic conditions due to COVID-19
- FXL actions have helped deliver unaudited net losses or average net receivables performance of 4.1% in FY20
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