ASX:CCA
Change Financial Ltd
Investment Summary
The fund managers believe Change Financial Ltd is on a positive trajectory, highlighted by a 69% increase in first quarter revenue compared to the previous year. In their opinion, the growth is driven by heightened usage of the Vertexon payment processing and card issuing platform. Management has reiterated their guidance for a 30% revenue growth over the entire year, with the potential for ~50% growth due to the recent completion of rollout to Unity Credit Union. Several fund managers expect an upgrade in projections during the half-year results announcement in February, indicating strong confidence in the company’s performance moving forward. Overall, the sentiment among fund managers is optimistic as they see substantial growth opportunities for Change Financial Ltd.
Commentary From The Managers
Mereweather Capital
31 Oct 2024
$0.07
- Mereweather Capital continues to hold due to CCA's strong first quarter revenue growth of 69% compared to last year.
- Growth is driven by increased usage of their Vertexon payment processing and card issuing platform.
- Management has reiterated guidance for 30% revenue growth over the full year.
- The first quarter performance is likely to result in a reported growth of ~50% thanks to the recent roll-out to Unity Credit Union.
- Expectations of an upgrade at the half-year results in February.
Please note: The completeness, accuracy or current status of the investments referenced are not guaranteed.