There are a lot of good blogs out there. Some more detailed than others, some look better or are laid out in different ways. I was looking for blogs that provided me with enough information on the company that I felt I understood what they were about. Here are my top 3 in no particular order...
http://cplccqu.blogspot.com.au/
Adrian's blog is very well detailed, lots of information, and I get a good feel for what his company does. The layout is great, makes it easy to read and well presented.
http://hilbils.wordpress.com/
Great blog, layout is excellent. good info on the company and additional info and well written, very personable!
http://laurennewtonacct11059.blogspot.com.au/
Lauren's blog is very well written with good humour, she engages the audience and wants you to keep reading. Layout is simple yet effective, and the content is informative.
Friday, 25 July 2014
Cash Converter Videos
Here's a few links to Cash Converters on YouTube:
http://youtu.be/g30HyQsh9wc - 2013 Advert
http://youtu.be/KUiQ8hrIbZY - Recruitment Video
http://youtu.be/pDUIIl_OUuo - Funny Commercial!
And here is the Cash Converters Channel: https://www.youtube.com/user/CashConvertersAus
http://youtu.be/g30HyQsh9wc - 2013 Advert
http://youtu.be/KUiQ8hrIbZY - Recruitment Video
http://youtu.be/pDUIIl_OUuo - Funny Commercial!
And here is the Cash Converters Channel: https://www.youtube.com/user/CashConvertersAus
Wednesday, 23 July 2014
Financial Statement Findings
Highlights from 2013:
From looking at the previous 4 years financial statements, it is clear Cash Converters are a company heading in the right direction. They have continued to make stronger profits year on year:
You can view the financial reports online at http://www.cashconverters.com/Investors/AnnualReports
- Revenue Growth of 16.4% to $272.7m
- Net Profit after tax was $32.9m up 11.7% on the previous year
- EBITDA up 37.5% to$40.7m
- Growth of online personal loans in Australia up 89% to $26.9m
- 3 Greenfield company owned stores opened in Australia and 9 franchises were acquired taking the number of corporate stores to 55
Dividends:
- over $15m was paid out in dividends
- Pay out ratio of approx 52% of net profit after tax.
From looking at the previous 4 years financial statements, it is clear Cash Converters are a company heading in the right direction. They have continued to make stronger profits year on year:
- Profit in 2010: $21.6m
- Profit in 2011: $27.6m
- Profit in 2012: $29.4m
- Profit in 2013: $32.9m
You can view the financial reports online at http://www.cashconverters.com/Investors/AnnualReports
Saturday, 12 July 2014
Structure of Cash Converters
Cash Converters is made up of a number of subsidiary companies. The parent company is Cash Converters International Limited and there are 10 subsidiary companies, 4 of these companies have subsidiary companies beneath them. There are 3 overseas companies, 2 in the UK and one in USA.
About Cash Converters
Cash Converters are an ASX listed company (Code: CCV) headquartered in Perth, Australia. They have 2 main streams to their business; sale of second hand goods, and financial services (cash advance and personal loans). Now with over 700 retail stores, which are franchised, they have a presence in 21 countries. Cash Converters have recently announced the acquisition of 3 new Queensland stores, taking the total number of stores in Australia to 64.
2013 was a good year for Cash Converters. Revenue grew 16.4% to $272.7m. Net profit after tax was $32.9m, up 11.7% on the previous year. This was a result of growth in a number of areas, including franchise establishment fees, retail store revenue, and an increase in personal loan interest.
The web store has over 200,000 registered users and generates around 7 million unique visits.In Australia, this accounted for $3.5 million in retail sales (as well as 1.2 milion pounds in the UK).
The outlook for Cash Converters is looking positive, with continued growth expected for 2014.
Key Challenges/Questions....
What is the Risk of Franchising? How long does it take to recover costs?
Financial Services license to offer loans and cash advances
Interest rates?
Competition?
Cash Converters Links:
Latest News:
http://www.cashconverters.com/CompanyOverview/LatestNews
Annual Reports:
http://www.cashconverters.com/Investors/AnnualReports
2013 was a good year for Cash Converters. Revenue grew 16.4% to $272.7m. Net profit after tax was $32.9m, up 11.7% on the previous year. This was a result of growth in a number of areas, including franchise establishment fees, retail store revenue, and an increase in personal loan interest.
The web store has over 200,000 registered users and generates around 7 million unique visits.In Australia, this accounted for $3.5 million in retail sales (as well as 1.2 milion pounds in the UK).
The outlook for Cash Converters is looking positive, with continued growth expected for 2014.
Key Challenges/Questions....
What is the Risk of Franchising? How long does it take to recover costs?
Financial Services license to offer loans and cash advances
Interest rates?
Competition?
Cash Converters Links:
Latest News:
http://www.cashconverters.com/CompanyOverview/LatestNews
Annual Reports:
http://www.cashconverters.com/Investors/AnnualReports
Thursday, 10 July 2014
Chapter 1
Why do we have double entry accounting? Why do we put in everything twice? Why not just once?
Double entry accounting is used to 'balance the books'. Every transaction must be written as a debit and credit in one of the 5 accounts; asset, liability, income, expense, or capital accounts. Just as a coin has two sides, every transaction has an equal and opposite effect in 2 different accounts. Each entry is used in accordance with the equation Assets = Liability + Expenses. However, using this method does not guarantee there will be no errors, for example, the wrong ledger account may be debited or credited, or the entries completely reversed.
3 x Assets, Liabilities and Expenses of Cash Converters.
Assets: Cash & Cash Equivalent, Trade Receivables and Personal Loan Receivables
Liabilities: Trade and other payables, Borrowings and Tax Payable
Expenses: Administrative expenses (such as employee wages, superannuation, benefits), Occupancy Expenses (Rent) and Other (e.g Legal Fees and bank charges)
Double entry accounting is used to 'balance the books'. Every transaction must be written as a debit and credit in one of the 5 accounts; asset, liability, income, expense, or capital accounts. Just as a coin has two sides, every transaction has an equal and opposite effect in 2 different accounts. Each entry is used in accordance with the equation Assets = Liability + Expenses. However, using this method does not guarantee there will be no errors, for example, the wrong ledger account may be debited or credited, or the entries completely reversed.
3 x Assets, Liabilities and Expenses of Cash Converters.
Assets: Cash & Cash Equivalent, Trade Receivables and Personal Loan Receivables
Liabilities: Trade and other payables, Borrowings and Tax Payable
Expenses: Administrative expenses (such as employee wages, superannuation, benefits), Occupancy Expenses (Rent) and Other (e.g Legal Fees and bank charges)
Sunday, 6 July 2014
My Company
My Company is Cash Converters.
The history of Cash Converters dates back to November 1984, when Brian Cumins, the Company's founder and former Chairman, began operating his first retail outlet in Perth, Western Australia.
During the next four years the merchandising formula and trading style that has underwritten the group's success were developed and tested in the marketplace. A total of seven stores were open and trading profitably before the franchising of Cash Converters began with the opening of two franchised outlets in Perth in June 1988.The history of Cash Converters dates back to November 1984, when Brian Cumins, the Company's founder and former Chairman, began operating his first retail outlet in Perth, Western Australia.
In 1990 the group began to expand into other Australian States and now has over 140 outlets throughout Australia. The success of its Australian operations resulted in Cash Converters seeking to expand into overseas markets.
The Company's carefully planned entry into Europe was launched in 1991 when the first store in the United Kingdom was opened at Gants Hill in Essex. Since then further stores have opened in the UK taking the total to over 200 stores.
The Company's first non-English speaking market joined the network with the opening of the pilot store in Vitrolles, near Marseilles in France, in December 1994.
Since launching the concept in 1984 Cash Converters has grown enormously with representation in 21 countries worldwide and to a network of over 700 stores.
Thursday, 3 July 2014
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