Thorn Group Appoints New CEO and Maintains Expectations of a Subdued Near-Term Outlook
We retain our AUD 1.65 per share fair value estimate for no-moat rated Thorn Group post the annual general meeting. Following four months trading into fiscal 2018, the company still expects a subdued fiscal 2018 due to the impacts on the consumer leasing business from adverse publicity related to action taken by the Australian Securities & Investments Commission with respect to its responsible lending obligations, the recently launched civil class action against the company, transition to a ...Thorn Group is a financial service provider. Co. has four reportable segments: Consumer Leasing, which leases household products; Business Finance, which provides financial products to small and medium enterprises including equipment leasing, trade finance and invoice discounting; Receivables Management, which provides receivables management, debt recovery, credit information services, debt purchasing and other financial services; and Consumer Finance, which provides personal loans.
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