Prospa Group Provides Trading and Guidance Update

Australia’s top online lender to small business, Prospa Group Limited (ASX: PGL) anticipates the CY19 originations to be over the Prospectus forecast at $574.5 million, up 32% on pcp and up 2.7% ahead of Prospectus forecast:

  • Revenue is anticipated to be $12.6 million lower at $143.8 million, up 16% on pcp and down 8% on Prospectus forecast;
  • The variance is catalysed by the premiumisation strategy exceeding PGL’s forecast;
  • The Company has been witnessing a soared appetite for its solutions from premium credit quality customers, who pay lower interest rates over longer terms, as it continues to grow its lending to all credit grades.

At 1:06 PM AEST, PGL quoted $2.800, down by 27.4%.

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