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Financial year ended 30 June 2010

‘RESULTS FOR ANNOUNCEMENT TO THE MARKET’

· Revenues from ordinary activities up 34.8% to $127,787,778;
· Profit from ordinary activities after tax up 34.2% to $21,676,163;
· Net profit attributable to members up by 33.8% to $21,629,922;
· The directors of the Company paid a fully franked interim dividend of 1.5 (one
and a half) cents per share on 31 March 2010. The directors have also declared a
final fully franked dividend of 1.5 (one and a half) cents per share to be paid on
30 September 2010 to those shareholders on the register at the close of business
on 16 September 2010;
· Cash Converters is targeting a NPAT for the 2011 financial year in the range of
$27 - $27.5 million – an increase of approximately 27% on this years result.

For the full release please see attached [PDF] Appendix 4E for the year ended 30 June 2010.

 
Chairman and Managing Director’s Review June 2010

The directors of Cash Converters International Limited (‘Cash Converters’) are pleased to
report a record profit result of $21.6 million for the 2010 financial year. This is the fourth
consecutive year that the Company has exceeded its forecast guidance number.

Please see the attached for full details [PDF] Chairman and Managing Director’s Review June 2010.

 
FURTHER STORE ACQUISITIONS - $21.9 million

Cash Converters International Limited (‘the Company’) is pleased to announce
that it has contracted to acquire 13 franchised stores in Australia, comprising
eight in Queensland, two in New South Wales, two in South Australia and one
in Victoria.


The 13 stores were purchased from existing franchisees for a total price of
$21.9 million, which included tangible assets of $6.3 million.
The acquisition price represents an EBIT multiple of 3.7 times.
The acquisition of these stores is anticipated to increase the Company’s EBIT
by approximately $5.8 million in the first full year of ownership.


These acquisitions take the total number of stores owned by the Company to
71 stores - 39 in Australia and 32 in the UK.

 
Further Corporate Stores

Cash Converters International Limited (‘the Company’) is pleased to announce the acquisition of four franchised stores in the northern UK towns of Halifax, Keighley, Dewsbury and Scunthorpe.
In addition, two new corporate stores were opened in the UK in June. The Company opened its second store in Hull and a store in Accrington.
The four stores were purchased from existing franchisees for a total price of £1.9 million, which included assets of £550,000. The acquisition price represents an EBIT multiple of 4.7 times.
The acquisition of these stores is anticipated to increase the Company’s EBIT by approximately £400,000 in their first full year of ownership.
These acquisitions, plus the two new store openings take the total number of stores owned by the Company to 59, comprising of 27 in Australia and 32 in the UK.
 
EZCORP Inc Subscribes Further Funds to Accelerate Growth

EZCORP Inc Subscribes Further Funds to Accelerate Growth
Cash Converters International Limited (‘Cash Converters’) is pleased to announce the issue of 16,200,000 additional ordinary shares at an issue of price of $0.60 per share to EZCORP Inc to raise $9,720,000 (‘the issue’).  Following completion of the issue, EZCORP Inc shareholding will increase to 124,418,000 shares (representing 32.762% of Cash Converters) from 108,218,000 shares (29.766%). The 3% increase is permitted under the provisions of item 9 of section 611 of the Corporations Act. To see the full release click here [PDF].
 
Operational Update May 2010

Cash Converters International Limited (‘the Company’) is pleased to provide the following brief update on operations and acquisitions since 31 December 2009:

  • In April 2010, three traditional stores and three buys and loans centres (all ex franchised stores) were acquired in Queensland and a further two traditional franchised stores will be acquired in May, one in Victoria and one in Western Australia. The total price to be paid for these acquisitions is approximately $4,355,000, which includes assets of $2,739,000. The acquisition of these stores is anticipated to increase the Company’s EBIT by approximately $1,100,000 in its first full year of ownership;
  • The acquisition of these eight stores will take corporate store numbers in Australia to 25. There are now 52 corporate stores in the group, with 27 in the UK and 25 in Australia;
  • The UK’s  150th store (including corporate and franchised) opened in April, making it our largest store network worldwide; 
  • The loan book for Safrock Finance which stood at $31.9 million at 31 December 2009 has grown 17% to $37.2 million as at 2 May 2010;
  • The total cash advance loans out for the month of April 2010 was a record $16.1 million;
  • The trial of the cash advance loan system and the Safrock personal loan system in the UK has been successfully completed and these products will now be rolled out progressively across the network in due course. Currently both products are available from nine of the corporate stores. The personal loan book has grown to £420,000 since the launch in October 2009 and all default and bad debt key performance indicators remain in line with our Australian bench marks;
  • On the 23 February 2010 the Company completed a transaction with Quickdraw Financial Solutions Pty Ltd to acquire its cash advance software platform licence rights to South Australia and the Northern Territory and transfer its cash advance customers in these territories to our wholly owned software supplier MON-E Pty Ltd. The Company expects this transaction to deliver at least $1.3 million in additional fee revenue in a full financial year; 
  • Cash Converters remains on track to meet or improve on the previously announced full year net profit forecast of between $20.5 million to $21.0 million.
 
Quickdraw Announcement

Revenue Gains - Cash Converters Secures the rights to SA and NT.

Cash Converters International Limited is pleased to announce the completion today of a transaction with Quickdraw Financial Soutions Pty Ltd [Quickdraw] of South Australia. Click for full details [PDF].

 
Record half-year profit 2009

The Directors of Cash Converters International Limited are pleased to report a record net-profit of $10.1 milion for the half-year ended December 31, 2009, representing an increase of 26.8% on last years result.

This strong half-year result positions the Company well to meet or improve on the full year net profilt forecast of $20.5 million to $21 million as announced to the market in November, 2009. 

Click for the full media release (PDF) and results for announcement to the market (PDF).

 
CCV Presentation 2009

Please see attached the latest CCV presentation........
 
Hartleys Report on Cash Converters 2009

Please find attached the latest Hartleys report on Cash Converters International (CCV).  Read more.....
 
Profit Upgrade Nov 09

As a result of the strong trading performance for the first four months of the financial year Cash Converters International Limited (‘Cash Converters’) is pleased to announce a profit upgrade from the Company’s previously released net profit target of $18 million - $18.5 million, to $20.5 million - $21.0 million.......

 

Good morning Ladies and Gentlemen and welcome to the 2009 Annual General Meeting of Cash Converters International.

 

The year under review has been the most successful in the Company’s history with a record net profit after tax of $16.2m, up 6.5% on last year’s result........

 

 
UK Store acquisition

Cash Converters International Limited (‘the Company’) is pleased to announce the acquisition of franchised stores in Nottingham and Loughborough, both in the northern corridor of England, close to where the Company’s UK corporate store group is located.

 
Completion of EZCORP Inc transaction

The Company is pleased to announce the completion of the transaction with EZCORP INC. .....read more

 
v45

Strategic Investor introduced to fund significant growth opportunities ......read more

 
Annual Report 2009

The Company is pleased to release the Annual Report for 2009.  Read more .......
 
Notice of Annual General Meeting 2009

To view details of the Company's Annual General Meeting for 2009, please click here.....
 
Notice of Meeting

The Company wishes to give Shareholders the following Notice of Meeting.  Read more ......
 
Financial Statements for the year ending June 2009

The Company is pleased to release the Financial Statements for the year ending June 2009.  Read more.....
 
CCV re enter S&P/ASX Indices

Cash Converters International Limited re enter S&P/ASX Indices.  Read more......
 
Hartleys Report on Cash Converters

Hartleys Report on Cash Converters International Limited dated 27 August 2009.  Read more.......
 
Record Profit Result

The Directors of Cash Converters International Limited are pleased to report a record profit result of $16.2 million for the 2009 financial year. Read more .......

 
Strategic Investor Introduced to Fund Significant Growth Opportunities

Cash Converters International Limited is pleased to advise that the Company has entered into a Subscription Agreement with EZCORP, Inc. to make a placement of 108,218,000 fully paid ordinary units at an issue price of A$0.50 per unit to raise approximately $54 million. Read more .....
 
Announcement - Store acquisition

Cash Converters International Limited is pleased to announce the acquisition of a franchised store in Barnsley, UK.  Read more ......
 
Announcement - Capital Raising

Cash Converters International Limited (‘the Company’) is pleased to advise that the Company has resolved to raise up to $5 million to purchase franchised stores and to increase the capacity of the Safrock loan book. Read more....... 

 
Operational Update

The Company is pleased to provide the following brief update on operations since the 31 December, 2008: read more......

 
Resignation of Director

Cash Converters International Limited (Cash Converters) announces the resignation of Mr Cameron Hetherington as a Director effective from 28 April 2009 due to personal reasons. Read more...........

 
Investor Presentation by MD

Cash Converters International Limited (ASX:CCV) is a company owned and franchised retail network and ......see our Investor Presentation given by Mr Peter Cumins the company's MD.
 
Half Year Accounts Dec 08

The Company is pleased to report a record net profit of $7,936,179 for the period, representing an increase of  9.3% on last year’s result.  This strong half-year result has the Company well placed to improve on the full year net profit forecast, recently upgraded to $13.1 million.  Read more ........

 
Managing Director's 2008 AGM Address and Results

 

Good morning Ladies and Gentlemen and welcome to the 2008 Annual General Meeting of Cash Converters International.

The year under review has been the most successful in the Company’s history with a record net profit after tax of $15.1m, up 30% on last year’s result. Read more ......

 
Annual report 2008

 

The Company is pleased to relelase the 2008 Annual Report

 
Board Changes

 

The Directors of Cash Converters International Limited (Cash Converters) are pleased to announce the appointment of Mr Paul Cowan as a Director effective from 27 October 2008. Read more......

 
Acquisition of Stores

 

The Company is pleased to announce the acquisition of three stores in Liverpool in the United Kingdom.  These stores were purchased from the existing franchisee for the equivalent of $2,860,000 including all assets. read more.........

 
Financial Statements for the year ending June 2008

 

In respect of the financial year ended 30 June 2008 the directors of Cash Converters International Limited submit the following report made out in accordance with a resolution of the directors. read more........

 
Appendix 4E for release 2008

 

It gives us great pleasure to present the Appendix 4E for the financial year ending June 2008.

 

This year has been the most successful in the Company’s history, with a record net profit of $15,174,586. This is up over 30% on the previous year. Read more......

 

 
Webshop now open!

We are pleased to announce that Cash Converters Webshop, our new Australian online store, is now open!  Providing an additional distribution channel and revenue stream for stores and the Company.

Consumers can bid at auction or buy items right away with a choice of payment methods - credit card, paypal or in-store if located nearby.


It is a truly integrated bricks and clicks solution with all products listed on Webshop also available for purchase at the listing store.

Webshop provides consumer confidence to online purchasing as all products are thoroughly checked and tested in-store with many being covered by a 90-day warranty,


You can find more information in the press release [PDF] and check out Webshop at: http:webshop.cashconverters.com.au

 
Announcement QLD Legislation

 

The Company refers to the announcement by the Queensland Government that it is introducing legislation into Parliament to give effect to the cap on interest rates at 48% per annum including fees and charges which is consistent with the Government’s announcement of December, 2007. read more......

 
Announcement ASX

The Company refers to the fact that there has been some publicity over the past year concerning the tax dispute between Mr Peter Cumins, our Managing Director, and the Australian Taxation Office. read more...........
 
Half Year Results

 

The Company is pleased to report a record net profit of $7,264,237 for the period, representing an increase of 68.4% on last year’s result.  This strong half-year result has the Company well placed to deliver the full year profit forecast, previously advised, of $14.5 to $15.0 million. read more......

 
Company Announcement Queensland Legislation

The Company has considered the potential earnings impact of the recently announced proposed legislative changes in Queensland
 
Announcement Micro-lending

 

The Company notes the announcement by the Queensland Government of its intention to regulate the micro-lending industry by capping the combination of interest, fees and charges at 48% per annum. Read more.....
 
Share Buy-Back

Cash Converters International Limited intends to commence an on-market share buy-back on 10 December 2007.... click here

 
Managing Director's Address 2007 Annual General Meeting

Cash Converters International Limited's Annual General Meeting was held at the Western Australian Club, Perth on 21 November 2007. The Mananging Director's address is attached for your information.

 
CommSec 2007 Emerging Companies Conference

Mr Peter Cumins, Managing Director of Cash Converters International Limited presentation Thursday 15 November, in Sydney Australia.  Please see attached presentation.
 
Completion of Acquisition of Eight Stores

The Company is pleased to announce the completion of the acquisition of the eight Hosking Financial Group stores in Melbourne.

The total acquisition price was agreed as $11.8 million.  Full control of the eight stores was passed to Cash Converters International Limited at the close of business on Thursday 18 October 2007.

 
Acquisition of Eight Stores

Cash Converters International Limited is pleased to announce that it has entered into a Sale Agreement to purchase eight Cash Converters stores in Victoria from the Hosking Financial Group (HFG).  It is expected that completion of this acquisition will occur as soon as the various landlords of the stores have consented to the assignment of the leases. 

The purchase price is $12.5 million and this will be funded from cash reserves and bank borrowing.  No shares will be issued in connection with this acquisition.  The price includes the loan book (approximately $2.2 million), stock (approximately $1.5 million), plant and equipment and fixtures and fittings (approximately $1.3 million) and all other assets employed in the businesses.  The price is based upon a historical EBIT for the stores, for the financial year to 30 June 2007 of $3 million as verified by audit.  The Company will incur additional costs going forward of approximately $600,000 per annum associated with maintaining the HFG head office and existing management team.  These costs will be diluted as we add store numbers to the network.

Upon completion of this transaction, the Company will own 20 corporate stores - 11 in the United Kingdom and nine in Australia.  This acquisition is a vital step towards the expansion of the corporate store network, a program which the Company is now firmly committed to.  This will be achieved by a combination of both new store openings and the acquisition of existing stores from franchisees.  The eight store network in Victoria together with its existing management team will form the core of our Australian corporate store network.

Each Company store in Australia will contribute to the collective advertising fund and pay training levies and IT fees on the same basis as every franchise store. 

This acquisition is a strong vote of confidence by the Company in the future prospects of the Cash Converters store business model.

 
Results for announcement to the market

Financial year ended 30 June 2007:

  • Revenues from ordinary activities up 103.2% to $45,979,982;
  • Profit from ordinary activities after tax up 173.0% to $11,631,146;
  • Net profit attributable to members up by 174.4% to $11,557,840;
  • The directors of the Company paid a fully franked interim dividend
    of 1.5 (one and a half) cents per share on 30 March 2007.  The directors have also
    declared a final fully franked dividend of 1.5 (one and a half) cents per share to be
    paid on 28 September 2007 to those shareholders on the register at the
    close of business on 14 September 2007.

Please see the attached PDF for details.

 
UK Store Acquisition

CCIL announces that its UK subsidiary has acquired five existing Cash Converters stores in and around Leeds.  The stores have been bought as going concerns for a total consideration of £1.6 million ($3.8 million) including assets.  The stores are expected to produce EBIT of £0.350 ($0.840) in the coming financial year and have considerable growth potential as two of the five stores have only recently been opened.  The addition of these stores to the existing corporate store chain of six stores will create economies of scale and efficiencies and enable the company to accelerate the growth of the corporate store chain in the UK.  This acquisition will also give a boost to the progress of the CC UK on-line auction site.  Having 11 corporate stores dedicated to the development of the e-commerce website will ensure its continued growth.

The acquisition will be funded by a combination of borrowings and available cash resources and without the issue of any shares.

 
Appointment of New Director

Cash Converters International Limited (“CCIL”) is pleased to announce the appointment of Mr Cameron Hetherington as a non-executive director of the Company with immediate effect.

Mr Hetherington is a 43 year old Australian residing in Queensland.  His appointment will add significant skills and experience to the Board of CCIL as it pursues an aggressive corporate store growth strategy by way of the acquisition of existing franchise stores and the opening of new stores.

In 1993 Mr Hetherington joined Dollar Financial Corporation, a NASDAQ listed company specialising in the provision of retail financial services such as pay day advances and unsecured loans. 

He served in a variety of senior management positions, most recently as the group’s Senior Vice President-International Operations since September 2004. Prior to this he served as Dollar’s Senior Vice President and President-U.K. Operations, as well as Managing Director of Dollar Financial U.K. Limited from March 1999 to September 2004, with responsibility for management and strategic development of the UK and European markets.  

Under his stewardship, the UK operation grew aggressively through eight major acquisitions and more than 40 new store developments, expanding the operations to 152 company owned and 350 franchise/agent locations. 

Before embarking on a career in commerce, from 1983 to 1992 Mr Hetherington served as a commissioned officer within the Australian Defence Force in a variety of operational, training and administrative roles both domestically and overseas, culminating in the position of Regimental Adjutant for the Royal Australian Regiment and Australian Infantry Corps.

Mr Hetherington resigned from Dollar Financial to return to Australia with his wife and children for family reasons and to pursue a corporate consultancy role.