Thursday 09 November 2017 by Asmita Kulkarni Company updates

CML Group - FY17 solid result

CML posted a strong result with FY17 EBITDA of $13.3m which was ahead of revised guidance as both scale and volume improved. Management are focused on transforming funding by moving to majority bank funded debt in the next 12 to 24 months. We believe CML's bonds offer fair value at current price

CML reported strong FY17 unaudited EBITDA of $13.3m, including acquired entities and discontinued operations, compared to $5.5m reported in FY16. Revenue increased by 48% to $40.0m in FY17 as invoices purchased grew by 146% to $1,001m. The loan book grew by 11% to $77.3m following the successful integration in 1H17 of the two acquisitions which were completed in 2016. 

The full report is available here​Note the content requires a FIIG login. 

Get your free copy of The Benefits of Corporate Bonds eBook

Get a copy of The Benefits of Corporate Bonds eBook

Subscribe to The WIRE newsletter

Sign up to a free weekly newsletter to get the latest investment news.