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Propell Holdings Limited (ASX:PHL)

ALERT: Price-sensitive ASX Announcement for PHL
Current share price for PHL : $0.009 -0.006 (-40%)+
Announcement
Release
31 Jan 2025 9:10AM
Price at Release
$0.015
Full Release
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Summary
Propell Holdings Limited reported its quarterly activities and cash flow for the period ending December 31, 2024, highlighting a new Trade receivables loan facility product aimed at increasing loan approvals for customers not meeting all credit criteria. Despite a cash outflow from operating activities of $43,000 in Q2 FY25, the company achieved its first half-year cash profit since listing, with significant loan book growth and a 111% increase in customer receipts compared to the previous corresponding period. The report indicates a focus on sustained profitability and enhancements to lending capacity via an expanded broker referral network.
Key Points
  • Propell launched a new Trade receivables loan facility product.
  • The company recorded net cash inflows from operating activities of $105,000 year-to-date.
  • Q2 FY25 saw a cash outflow of $43,000 from operating activities.
  • Customer receipts were $535,000, up 111% on the previous corresponding period.
  • Operating costs rose 49% quarter-on-quarter but decreased 11% compared to the previous year.
  • The average loan size increased by 152% on the previous corresponding period to $92,000.
  • Propell continues to expand its broker referral network to facilitate loan book growth.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.