Credit Corp FY12 Profit Upgrade

Today Credit Corp Group (ASX:CCP) held their AGM and provided some details on their start to the first four months of the financial year. The company also revised upwards the previous FY12 guidance issued in August 2011.

• PDL acquisitions: $50 - $65m (previously $45 - $65m)
• NPAT: $23 - $25m ($21 - 23m)
• EPS: 50 - 55 cents (46 - 51 cents)

If the improvement in EPS for the first four months is extrapolated over the full year, we're looking at around 60cps - so the guidance is still on the conservative side. Further guidance upgrades between now and the final result (bar impacts of the current legal proceedings) should not be entirely unexpected.

Share price is currently up over 5% today to $4.10