Controversial buyer of bad debts Pioneer Credit is a step closer to confirming the worst fears of shareholders, flagging a previously unforeseen hit to net profit after adopting a new reporting standard.
Pioneer Credit CEO Keith John gave guidance of a 14 per cent increase in net profit to $20 million in April.
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James Frost writes about banking, funds management and superannuation. Based in Melbourne, James has been reporting on specialist business and finance topics for 15 years. Connect with James on Twitter. Email James at james.frost@afr.com
