Home Technology Plenti gives a positive cash NPAT for 22 fing

Plenti gives a positive cash NPAT for 22 fing

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A fintech company that is on the ASX list Wealth announced year-over-year results for the year ended March 31, 2022 (FY 22), with record loans of $ 1.1 billion (134% year-on-year), record loans of 1 , $ 3 billion (111% over the same period last year). ) and a record interest income of $ 87.3 million, up 72% from the same period last year.

They also delivered $ 0.5 million in cash for the full year and $ 2.7 million in cash for the second half.

Wealth CEO and founder Daniel Fogg said: “Achieving NPAT’s positive cash is an important milestone for Plenti and demonstrates the strength of our technology business model and talented team. This concludes an exceptional year of growth as we continue to share market share in all lending verticals and set new industry standards.

“At the heart of this is the constant focus on providing exceptional experience and growth initiatives. Thanks to our diverse funding options, continuous improvement in operational efficiency as we scale, and good experience in risk management, we have good opportunities for further profitable growth. ”

Loan allocation and loan portfolio growth

As of March 31, 2022, Plenti had achieved significant credit growth, 134% more than in FY 21. Growth was particularly strong in automotive finance, where annual loans of $ 639 million were 177% higher than the previous year.

Renewable energy consumption rose to $ 98 million, up 72% from the previous year. Physical loans rose to $ 365 million, up 100% from the previous year.

This growth was achieved simultaneously with the further increase in the average credit profile of borrowers. Equifax’s average credit score on the loan portfolio increased from 821 at the beginning of the period to 838 at the end of the period.

Plenti’s total loan portfolio grew 111% to $ 1.3 billion as of March 31, 2022, including $ 745 million in car loans, $ 142 million in renewable energy loans and $ 413 million in personal loans.

https://australianfintech.com.au/plenti-delivers-positive-cash-npat-for-fy22/

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