Pepper Money Share Price Rise on 1H 2021 Performance (ASX:PPM)

Pepper Money Ltd [ASX:PPM] share price climbed nearly 5% today after revealing strong first-half 2021 results.

Pepper Money is a leading non-bank lender with a focus on the Australian and New Zealand personal finance markets.

The company innovates to provide home loan solutions to customers let down by traditional lenders.

It underwent corporate restructuring in March and was only officially listed on the ASX on 25 May this year.

However, the company has been operating since 2000.

Today’s release indicated several highlights, which are the likeliest reason for the share price jump. Let’s explore some of those below…

An optimistic word from the CEO

Pepper Money reported an approximate 41% rise in statutory net profits after tax (NPAT) of $56 million.

Were it not for the costs of their recent IPO, that number would have sat at around $66 million.

That’s solid growth.

The company’s update attributed the performance to a ‘resilient Australian property market and strong demand for asset finance.’

In other highlights, Pepper revealed it had originated $3.7 billion in loans for a total of $16 billion in assets under management — a 40% spike.

The company pledged a continual investment technology so that they scale efficiently and grow over time.

Pepper Money’s CEO Mario Rehayem had glowing praise for the result:

The result reflects Pepper’s strong track record of delivering growth in our chosen segments via innovative lending solutions.

The strength and depth of our extensive partner network has enabled us to respond to customer demand, delivering record originations across both Mortgages and Asset Finance in 1H 2021.’

It will be intriguing to see how today’s findings continue to influence the share price over the coming weeks.

What next for the PPM share price?

Although Pepper Money delivered strong results, it’s not the only stock making waves in the market today.

In fact, our small-cap investing expert Murray Dawes believes he’s found several other stocks that could rapidly accelerate investor returns in 2021.

And they’re not necessarily the ones the mainstream news is reporting on.

He’s found seven of them, to be exact. And if they perform like he thinks they will this year, you could potentially be in for very generous returns. Want to find out what they are?

To discover Murray’s stock picks, download your free report

Regards,

 Kiryll Prakapenka

 For Money Morning

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Kiryll Prakapenka is an investing autodidact who is passionate about conducting in-depth research on investments. Kiryll brings sound analytical skills to his work, courtesy of his Philosophy degree from The University of Melbourne. A student of legendary investors and their strategies, Kiryll likes to synthesise macroeconomic narratives with a keen understanding of the fundamentals behind companies.


Money Morning Australia