FY21 Result: A strong result out of the alternative personal lender today. Large parts of the results were pre-released however revenue was in line at $145m, up 17% for the year. The final dividend of 7cps was a surprise, though MNY has a strong capital position with a handy franking balance. Money3 is doing well in a competitive space, though the smaller players are getting the jump on the traditional lenders with a more flexible structure and better technology. Auto lending has been a key winner and they look on track for a key $1b book in the near term, topping $600m at the end of the financial year. There is a lot in the price here though and we are watching closely. Shares were trading 2.8% higher at time of writing.
MM is now neutral MNY
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