Pioneer Credit delivers record results

Financial services provider Pioneer Credit has achieved a record year of growth, with increases in revenue, net profit, and customer numbers.

Pioneer grew profit to $9.5 million for the 2016 financial year, up from $8.8 million in FY15, while revenue increased 24 per cent to $47.8 million.

The company declared a final fully franked dividend of 6.2 cents, to give a total dividend of 9.8 cents per share for the year.

Pioneer’s portfolio assets rose to $111.1 million during the year, with the company’s customer base passing the 150,000 mark.

“We are pleased with the strong full-year result,’’ managing director Keith John said.

“We have continued to increase our portfolio assets while maintaining a conservative approach to capital deployment.

“We have seen the quality of our customer portfolio translate into both strong cash flow and earnings.”

Mr John said the year was marked by the company’s continued focus on building a long-term customer base.

“Our strategy has always been to acquire customers with prime credit quality characteristics and transition them into ‘new consumers’ who trust the Pioneer brand,” he said.

“In doing so, we will underpin our expansion into a broader range of financial products and services.

“Increasingly, we are seeing a growing preference from the major banks and other loan originators to partner with us, as a company that has an exemplary compliance record and a genuine customer-oriented approach.”