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Tuesday 26 April 2016 by FIIG Research Company updates

Company updates – Cash Converters, NCIG and Newcrest

Cash Converters is to make an announcement following the final report into Small Amount Credit Contracts. NCIG announced a proposed refinancing to its commercial structure, allowing additional credit support from major shareholder BHP. Newcrest delivers a 33% quarterly uplift in its cashflow margin

Cash Converters

The government review panel has tabled its final report into Small Amount Credit Contracts (SACCs) and consumer leases. This will have an effect on Cash Converter’s (CCV) business, although this is difficult to qualify. We await an ASX statement from the company which the CFO advises to expect in the coming week.

More information is available here. External link - opens in a new window

NCIG

NCIG has announced a proposed refinancing and simplification to its commercial structure which would involve additional credit support from major shareholder BHP.

More information is available here (for wholesale investors only; requires login). External link - opens in a new window

Newcrest

Newcrest has released its quarterly production report for the March 2016 quarter (link to the announcement here External link - opens in a new window ). The report is positive for the credit, highlighting continued strengthening in the company’s cashflow margin. This is driven by a resilient gold price, cost reductions and improved production levels with the resumption of full operations at the low cost Cadia mine.

More information is available here. External link - opens in a new window

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