Flexigroup provides trading update for FY20

  • Aug 01, 2020 AEST
  • Team Kalkine

 

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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