CCP +8.57%: The debt collector upgraded guidance today expecting FY profit of $92-97m which is up from $85-95m thanks to better acquisition of debts. The market was already at the high end of the guidance range ($94.5m) which is understandable given that CCP generally gets there. Using that as a guide today’s announcement was only a ~2% bump however they also announced a deal to buy the assets of the Radio Rentals appliance leasing business for around $60m which the market clearly liked.
MM is neutral CCP around $33
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