Markets

Radio Rentals agrees to a $2 million fine for lending to those who couldn’t pay

The Thorn Group has settled with the corporate regulator ASIC (Australian Securities and Investments Commission) a long-running investigation into breaches of responsible lending practices by its consumer leasing business Radio Rentals. The investigation centred on the failure of Radio Rentals to determine whether someone taking out a lease had the […]
Radio Rentals agrees to a $2 million fine for lending to those who couldn’t pay
Markets

Thorn Group shares are getting smashed

Shares in the Thorn Group fell hard after the consumer leasing business posted a half year loss on a weak retail environment. At the close, the shares were down 9.7% to $0.60. The company reported a loss of $9.67 million for the half year to September, compared to a profit […]
Thorn Group shares are getting smashed
Markets

The retail crunch has hit Radio Rentals

A weak retail market has hit the Thorn Group, owner of consumer leasing business Radio Rentals. The company just posted a loss of $9.67 million for the half year to September, compared to a profit of $15.2 million last year, with revenue sliding 12.5% to $132.41 million over the six […]
The retail crunch has hit Radio Rentals
Markets

The retail crunch is dragging on profits at Radio Rentals

The Thorn Group, owner of leasing business Radio Rentals, has cut its profit forecasts by up to 30% as a weak retail market takes hold. In a market update, the company says it expects half-year profit after tax to be around $11 million and the full year to be in […]
The retail crunch is dragging on profits at Radio Rentals