Join our daily newsletter At The Bell to receive exclusive market insights
- Credit Clear (CCR) achieves record revenue in May and operational profitability of $3.03 million
- The result pushed the company into an operational profit of $23,000 for the month
- This was ahead of CCR’s expectations, which was originally predicting profitability two months later, in July
- It is now planning to accelerate client onboarding in the next quarter
- Shares are trading 12.9 per cent higher at 39.5 cents each at 12:12 pm AEST
Receivables management solution company, Credit Clear (CCR) has achieved record revenue in May and operational profitability.
The company saw $3.03 million in revenue, which pushed it into an operational profit of $23,000 for the month.
This was ahead of CCR’s expectations, which was originally predicting profitability two months later, in July.
The company said the growth was underpinned by new and existing clients and its increasing investments in technology and client success resources.
Looking ahead, the company believes the elevated costs of living and limited wage growth will further support profit.
It is planning to accelerate client onboarding in the next quarter.
CEO Andrew Smith said it is exciting to wrap up the financial year with a strong cash balance and a supportive economic environment.
“The uplift in performance produced for our clients has been quantifiably proven in recent case studies and is contributing towards greater referral volumes from existing clients, and an influx of new clients that we have signed in the past few months,” he said.
Shares were trading 12.9 per cent higher at 39.5 cents each at 12:12 pm AEST.
