Updates25 May 20214 minute read

Plenti delivers strong FY21 results

Plenti Group Limited (ASX:PLT) is pleased to announce its full year results for the year to 31 March 2021.

Plenti delivers strong FY21 results
  • Record loan originations of $470 million, up 64% year-on-year
  • Record loan book of $615 million, up 61% year-on-year
  • Record revenue of $53.1 million, up 28% year-on-year
  • Pro forma cash NPAT of $(6.8m), a 42% improvement year-on-year
  • Increased warehouse facility capacity from $50 million to $450 million
  • Reduced funding costs on new loan originations by 190bps year-on-year
  • Materially reduced operating costs per dollar funded, evidencing operating leverage
  • Delivered market-leading credit performance with 0.96% net loss rate and low 90+ day arrears
  • Delivered significant technology and product advancements, including introduction of BNPL finance
  • Successfully completed IPO, raising $55 million
Note: Q4 run-rate represents Q4 FY21 loan originations multiplied by four
  1. Growth – reaching a $1 billion loan portfolio by March 2022
  2. Profitability – achieving positive monthly Cash NPAT prior to June 2022, while investing in and achieving strong growth
  3. Efficiency – driving towards cost to income ratio of below 35% over the medium term

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Written byTeam Plenti
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