Flexigroup Limited

( ASX:FXL ) - Diversified Financials


Has FlexiGroup Reset A Realistic Base?

Finance provider FlexiGroup (FXL) has affirmed its growth targets as it undergoes a re-balancing of its business mix. Brokers note the outlook for FY17 has been re-based and appears more realistic. Offsetting stronger growth some headwinds remain apparent, including the cost of funds and increased impairments as well as volume growth in Certegy and continued pressure on the profitability of consumer leasing.

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Brokers Welcome A Tidier Flexigroup

Financial services business Flexigroup (FXL) is tidying up. The company intends to divest or discontinue poorly performing segments and focus on its core operations. While one-off charges have led to a mild downgrade to FY16 forecasts, brokers believe more of the risks are now priced into the stock.

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Analyst Views