Credit Corp’s Net Profit Hit Amid COVID-19 Pandemic | ASX Market Update

  • Jul 13, 2020 AEST
  • Team Kalkine

Oil Search has warned of a multi-million-dollar asset impairment charge as the economic downturn sparked by the coronavirus pandemic has lowered the value of the company. The major resource group flagged a non-cash impairment charge between $A517 ($US360m) and $A575m ($US400m), due to prevailing economic conditions dampening the outlook for global oil and gas prices. The impairment charge comes ahead of the group’s interim results which are scheduled to be released on August 25.

Credit Corp (ASX:CCP) expects NPAT for FY20 to be in the range of A$10-15 million after accounting for the impairment cost on purchased debt ledger assets and COVID-19 associated costs. Before the impairment cost, NPAT for FY20 anticipated to be in between A$75-A$80 million. Moreover, the Company disclosed that it enters FY21 in a robust position without any net debt and undrawn lines of A$375 million.

Sezzle Inc (ASX:SZL) completed its capital raising of A$79.1 million via a fully underwritten institutional placement. The Placement priced at $5.30 per CHESS Depositary Interest and was well supported by Sezzle’s existing as well as new CDI holders. Moreover, the Company disclosed that funds shall be used for accelerating growth strategy of Sezzle and strengthening its balance sheet. Post announcement, SZL quoted at A$8.480, up by 22.158% at AEST 11:56 AM.

#ASX #SZL #CCP #Kalkine


The website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The article has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform. All pictures are copyright to their respective owner(s). does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.


There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK