MENU

Why Scottish Pacific Group Ltd (ASX:SCO) is up on its FY18 results

Shares in financial services provider Scottish Pacific Group Ltd (ASX: SCO) are up 2.2% to $3.42 at the time of writing after the release of strong FY18 results.

Scottish Pacific has reported NPAT of $29.7 million, up 17.4% on FY17 with net revenue coming in at $108.6 million – up 8% and a total dividend of 19c per share declared.

According to its results, Scottish Pacific’s focus on business management over FY18 has seen it cut costs to income to 50.2% as it reported its strongest growth in its mid-size client segment.

Looking forward, Scottish Pacific has flagged risks sitting with the underlying debtor, not the SME borrower, with the market for non-bank lenders for SMEs expanding.

Elsewhere in the consumer finance sector, shares in Eclipx Group Ltd (ASX: ECX) are also on the up, rising 1.9% to $2.62 at the time of writing.

Another one to watch is Zip Co Ltd (ASX: Z1P), with good share price gains since the release of its FY18 results on August 7.

Japanese Billionaire’s Prediction Will Give You Goosebumps

When a veritable investing and entrepreneurial genius speaks, it pays to listen.

In fact, he's now preparing a $100B "war chest" to invest entirely in this "terrifying" new technology, which could spell huge profits for investors.

Click here to learn about this technology and how you can profit!

Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.