Cracking result for this short-term finance company

Pie Funds

Pie Funds

Money3 (MNY:ASX) posted a cracking result with NPAT up 78%. Due to negative sector sentiment however, the company is now trading on 6-7x p/e FY16, despite strong guidance of 30% NPAT growth. Importantly the secured lending division, the main growth arm, makes up 2/3 of the business and the company now appears keen to exit the unpopular unsecured low value loans. If this is achieved prior to year end then a re-rate back to 10x p/e seems on the cards. To access more insights click the (VIEW LINK)


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