Booming Cash Converters revenues point to squeeze on the poor
Revenues at Cash Converters, the subprime lender and pawn shop operator, have jumped more than 11 per cent in Australia over the past year, pointing to squeezed households increasingly selling assets to pay for higher living costs.
The company said its overall revenue – it also operates in New Zealand and the United Kingdom – was up 26 per cent to $383 million for the 12 months to June 30, citing unaudited figures. Its overall loan book increased 6 per cent to $288.1 million.
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