Monday, 22 February, 2016 - 14:50
Pioneer set for profitable year
Financial services provider Pioneer Credit says it’s on track for a record FY16, after delivering a 105 per cent rise in half-year profit.
Pioneer Credit is a WA-based financial services provider, specialising in acquiring and servicing retail debt portfolios. The company’s origins can be traced back to 1988, when founder and managing director Keith R John launched what was to become one of Western Australia’s most significant process serving businesses. Three years later this business merged with a small debt recovery agency and Pioneer Credit Management Services was formed.
Throughout the 1990s Pioneer Credit rapidly became a prominent force in the Australian debt recovery market, and by 1999 Pioneer Credit was the largest debt recovery agency in WA, providing services to a national client base spanning all major commercial sectors.
Rank | Company | 1 Yr | 5 Yr |
---|---|---|---|
173rd | Indiana Resources | 83.92% | 38.97% |
174th | Cue Energy Resources | 83.63% | 0.17% |
175th | Pioneer Credit | 83.35% | -23.14% |
176th | Powerhouse Ventures | 82.86% | 4.17% |
177th | Nanoveu | 82.6% | -4.17% |
Rank | Company | # | |
---|---|---|---|
54th | ![]() |
Pioneer Credit | $70.67m |
55th | ![]() |
Mustera Property Group | $68.85m |
56th | ![]() |
XRF Scientific | $59.85m |
57th | ![]() |
Atlas Pearls | $59.33m |
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NEWS: Tagged in Pioneer taps investors for $10m | 22 Mar 2024 |
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Financial services provider Pioneer Credit says it’s on track for a record FY16, after delivering a 105 per cent rise in half-year profit.
Perth-based financial services provider Pioneer Credit has acquired an online mortgage broking company for an undisclosed sum.
SPECIAL REPORT: The number of women serving on company boards is slowly one the rise, but it’s still rare to see a female take the chair, judging by Business News’s analysis of Western Australian company directors.
Local financial services provider Pioneer Credit has raised nearly $6 million from investors as it seeks to further grow its business.
Keith John has been appointed as a non-executive director of Goldfields Money. Mr John is the founder and managing director of Pioneer Credit and has over 20 years of experience in the receivables management industry.Rob Bransby has resigned from the board of Goldfields Money.
Financial services provider Pioneer Credit has boasted a record year of growth, with increases in revenue, net profit and customer numbers.
Perth-based financial services provider Pioneer Credit has signed a $100 million debt facility with Bankwest and Westpac as it seeks to continue growing its debt portfolio.
Given the passion Rob Bransby feels for healthcare, it is hard to believe he is willingly stepping down from his CEO role at HBF.
Financial services provider Pioneer Credit has raised $20 million from investors to fund the purchase of a $14 million debt portfolio, with long-term shareholder Banksia Capital selling its 9.75 per cent stake at the same time.
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The strong performance of the Business News index of 30 local companies designed to track the state’s economy implies good years ahead for WA.
Shares in Pioneer Credit fell 29 per cent yesterday after the company reported a weak interim result and its accounts were qualified by its auditor.
Pioneer Credit’s shares have surged 27.4 per cent to close at $2.51 each, after the company confirmed it has received a takeover proposal at a “material premium” to its current share price.
Pioneer Credit could be in breach of its loan covenants, after it said a change in the accounting treatment of its consumer debt portfolios would likely result in a dent to its underlying earnings.
Pioneer Credit has reached a standstill agreement with two of its major lenders as it attempts to deal with the fallout from a change in the accounting treatment of its consumer debt portfolios.
Pioneer Credit has disclosed it is just days away from announcing a preferred bidder for the troubled financial services business.
Pioneer Credit has named US investment group Carlyle as preferred bidder to acquire the business, at a price of $1.82 per share, a large discount to the company’s latest closing price of $2.46 per share.
Azure Capital, Canaccord Genuity and DLA Piper were among the most active advisers on corporate finance deals in 2019.
Dr MingYan Wang has been appointed managing director of Anova Metals. Dr Wang has over 20 years of experience within the mining and resources industry, specialising in identifying projects, exploration, management and business development opportunities.
Pioneer Credit has accused its major lender and takeover bidder, US private equity group Carlyle, of trying to either push down its $120 million takeover offer to a very low price or withdraw from the deal altogether.
Perth’s top corporate lawyers have been busy helping their clients navigate the fallout from COVID-19.
Pioneer Credit has started to engage with potential buyers of the business and is also seeking to refinance its $220 million debt, after last week’s collapse of the Carlyle Group takeover.
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Shares in Perth-based debt recovery business Pioneer Credit received a boost on the news its customer performing arrangements had surpassed $400 million.
While lower returns on equity have flowed through to WA’s top earners this year, the river has hardly run dry for the top end of town.
Pioneer Credit has successfully raised $11.4 million to fund the purchase of what it is labeling a high-quality debt portfolio.
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Perth-based Pioneer Credit claims it lost more than $30 million because of PwC’s breach of duty and misleading conduct, in a court action against the accounting firm.
In this podcast: Mark Beyer and Mark Pownall discuss opposition fracture; Perth house prices; RAC Insurance; Pioneer Credit; BGC stoppage; Hancock Prospecting; Azure Minerals, and private companies wrap.
Financial services provider Pioneer Credit will raise $10 million in a bid to further its growth opportunities throughout the remainder of the 2024 financial year.
ASX-listed Pioneer Credit has announced plans to raise $10 million, in order to increase its purchase debt portfolio investments.
A dispute between Pioneer Credit and PwC has progressed, with lawyers for both parties appearing in the Supreme Court of Western Australia.
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