Debt collector Credit Corp lifts profit guidance and its shares soar

Daniel Ricciardo of Australia at the Formula One Grand Prix of Mexico. Clive Mason/Getty Images

Credit Corp Group updated full year profit guidance to $42 million to $44 million, up $2 million on previous expectations.

The company’s shares jumped 12% to $9.67.

The debt collector today reported a strong performance over the first four months of the financial year with collections up by 10%.

In it lending business, the loan book is tracking ahead of expectations. Growth is primarily for personal loans of $2,000 to $5,000.

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