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An announcement from Propell Holdings Ltd. ( (AU:PHL) ) is now available.
In Q2 FY25, Propell Holdings Limited introduced a new Trade receivables loan facility, aiming to improve loan approval rates by allowing customers to use trade receivables as loan security. This strategic move is expected to enhance the company’s loan book growth and operational efficiency. The quarter saw net cash inflows from operations, marking the company’s first half-year cash profit since its listing in 2021, despite a slight cash outflow in Q2. Additionally, Propell launched an automated online credit assessment tool for brokers, significantly boosting loan approval rates by enabling faster credit decision-making processes.
More about Propell Holdings Ltd.
Propell Holdings Limited is a leading finance platform focused on serving small and medium enterprises (SMEs). The company specializes in providing financial solutions, including loan facilities, catering to the needs of the SME sector.
YTD Price Performance: -25.00%
Average Trading Volume: 444,769
Technical Sentiment Consensus Rating: Sell
Current Market Cap: A$4.18M
For an in-depth examination of PHL stock, go to TipRanks’ Stock Analysis page.
