Business lender Prospa posts $24.9 million loss as loans fall while revenue climbs

  • FY20 loan originations of $450.9 million, down 10.1% on FY19
  • FY20 total revenue of $142.1 million, up 4.2%
  • EBITDA loss of $19.5m (FY19: -$0.8m)
  • EBITDA $4m, excluding Covid-19 provision, and a one-off loan receivable adjustment of $5.5m
  • Total ANZ customers up 43.5% over 30 June 2019
  • Customer repayments since June 30 better than expected
Prospa Group (ASX:PGL) has posted a net profit after tax (NPAT) loss of $24.9 million for FY20, 0.8% lower than 12 months ago.

The impact of covid-19 on the Sydney-based business lending fintech was clear in loan originations over the financial year.

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