Steady as she goes :)
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Steady as she goes :)
Didn't have time to post yesterday:
https://cdn-api.markitdigital.com/ap...8185-2A1502349
POSITIVE CASH NPAT AND BOOK GROWTH CONTINUE STELLARE® 2.0 POSITIONING HARMONEY FOR SIGNIFICANT GROWTH IN FY25 AND BEYOND
AUTOMATION REDUCES COST TO INCOME RATIO TO 24%
Harmoney Corp Limited (ASX:HMY) (“Harmoney” or “the Company”), a leading consumer-direct personal lender in Australia and New Zealand, is pleased to provide an update on its performance for the half year ended 31 December 2023 ("1H24").
1H24 Highlights:
- Harmoney's model continued to deliver both loan book growth and Cash NPAT profitability despite a higher interest rate environment.
- Corporate debt refinanced and upsized to a $30m facility ($22.5m drawn), endorsing the strength of the business and providing capacity for up to ~$200m additional loan book growth.
- Issued inaugural New Zealand NZ$200m asset backed securitisation ("ABS"), complementing earlier Australian ABS and delivering further funding capacity and diversification, combined with ongoing warehouse funding support from 3 of the ‘Big 4' Australian banks.
- Stellare® 2.0 rolled-out to new customers in Australia, with improved processes delivering higher application day conversion.
- Cash ROE remains on track to reach 20% run rate in FY25.
Yep every annoucement showing the company doing what it said but share price not moving. I thought this last time it sat at 50c it would stay but drifted back. I got a buy in at 40c but it only got down to 40.5c damnit! Very happy holder with what the business is doing but underwater investment wise haha
Liftoff? I'm close to being above water haha
Almost 50% gain in 5 days is always good.
Disc hold
I'm above water! Ahh the air feels good