Inactive Instrument

COLLECTION HSE

Equities

CLH

AU000000CLH1

Collection House : Ord Minnett rates CLH as Lighten

June 10, 2020 at 08:31 pm EDT

Ord Minnett adjusts earnings forecasts following the delayed release of the first half result. Collection House has breached debt covenants and entered into a standstill agreement with lenders until September 2020.

The broker assesses the stock will likely remain in suspension until a recapitalisation process is finalised. Lighten rating and $1 target retained.

Sector: Commercial & Professional Services.

Target price is $1.00.Current Price is $1.09. Difference: ($0.09) - (brackets indicate current price is over target). If CLH meets the Ord Minnett target it will return approximately -9% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Latest news about COLLECTION HSE

Collection House Limited Announces Management Changes	22-11-08	CI
Credit Corp Group Limited completed the acquisition of Collection House Limited.	22-10-23	CI
Credit Corp Group Limited entered into a binding agreement to acquire Collection House Limited for AUD 11 million.	22-08-28	CI
Collection House's Sale, Recapitalization Process Starts	22-07-08	MT
Collection House Receives $1.2 Million from Completion of Debt Sale	22-05-25	MT
Credit Corp Group Completes $8.6 Million Acquisition of Collection House Group’s New Zealand Ledger Book	22-04-26	MT
Credit Corp Group Limited completed the acquisition of New Zealand Ledger Book from Collection House Limited for approximately AUD 12 million.	22-04-25	CI
Collection House Limited Reports Earnings Results for the Half Year Ended December 31, 2021	22-02-28	CI
Credit Corp Group Limited entered into a binding agreement to acquire New Zealand Ledger Book from Collection House Limited for approximately AUD 12 million.	22-02-22	CI
Collection House Limited Announce Retirement of Michael Knox as Non-Executive Director	21-11-22	CI
Collection House Limited Auditor Raises 'Going Concern' Doubt	21-08-26	CI
Collection House : Names New CFO	21-06-15	MT
Collection House Limited Announces Chief Financial Officer Changes	21-06-15	CI
Collection House : Narrows Loss in Six Months to December 2020 on Absence of Impairment	21-02-23	MT
Collection House Limited Reports Earnings Results for the Half Year Ended December 31, 2020	21-02-22	CI
Credit Corp Group Limited completed the acquisition of Australian Purchased Debt Ledger from Collection House Limited.	20-12-30	CI
Credit : Acquire Collection House's Australian Ledger Book	20-12-28	MT
Credit Corp Group Limited signed binding agreement to acquire Australian Purchased Debt Ledger from Collection House Limited for approximately AUD 180 million.	20-12-23	CI
Collection House Limited Auditor Raises 'Going Concern' Doubt	20-12-22	CI
Collection House Limited Announces Executive Changes	20-11-09	CI
Collection House Limited Reports Earnings Results for the Full Year Ended June 30, 2020	20-08-30	CI
Collection House Limited(ASX:CLH) dropped from S&P/ASX Emerging Companies Index	20-06-22	CI
Collection House Limited(ASX:CLH) dropped from S&P/ASX All Ordinaries Index	20-06-22	CI
Collection House Limited Withdraws Earnings Guidance for Financial Year 2020	20-06-02	CI
Collection House Limited Expects Earnings in the Second Half of Fy20 to Be Down on the Previous Corresponding Period	20-06-02	CI

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Company Profile

Collection House Limited is a receivables management company. The Company has developed customer service capabilities and deliver systems that enables it to provide practical, customer focused solutions in collections, credit management and customer care. It provides debt collection and receivables management services from offices in Australia, New Zealand, and the Philippines. It offers a range of services, including receivables and arrangement book management, business process outsourcing, hardship management, learning and development, legal and insolvency services, and quality compliance and evaluation. It has two segments: Collection Services and Purchased Debt Ledgers (PDLs). The Collection Services segment includes the collection of debts and provide customer service and hardship assistance on behalf of clients, such as banks, public utilities, and government agencies. The PDLs segment includes the collection of debts from client ledgers acquired by the Company.

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