November 14, 20161:07pm
Scottish Pacific Group has experienced lower than expected levels of borrowing during the first four months of FY17, predominantly among some of its larger clients, who are borrowing less than expected. This has resulted in a decline in forecast net revenue of $8.2 million (7.5%) in the period.
However, the company's margins are in line with expectations and costs and bad debt expense are lower than expected.
As a result, Scottish expects to produce PBIT of $40.7 million (down 9.3% on prospectus forecast) and NPATA of $30.8 million (down 3.1%) for the year to June 30, 2017.
