An announcement that Pioneer Credit had rolled over an important forward flow agreement with one of Australia's major banks failed to provide any share price support for the financial services provider.

This was somewhat surprising, given shares in the company were sold down from about $2.00 in March to trade as low as $1.45 in mid-May. In conjunction with the announcement, managing director Keith John confirmed the provider of debt management services was on track to achieve net profit guidance of $6.6 million for 2014-15.