• Diversified earnings across lending and retail, with growing geographic diversification
• Transitioned to lower-risk, longer-term personal loan product
• Improving store economics through increased corporate ownership and higher-margin mix

Cash Converters International Limited (CCV) reported its 1H26 results, showcasing a strong performance driven by its diversified business model across lending, pre-owned retail, and franchising. The company has transitioned to a simplified lending offering, focusing on lower-risk, longer-term personal loans, which has improved earnings quality. The store network continues to expand, with a growing corporate ownership and higher-margin product mix, including a focus on luxury goods. Cash Converters' acquisition strategy has been successful, with 120 franchise acquisitions in Australia and the UK since FY21, contributing to earnings growth. The company maintains a strong cash and funding position, with diversified cash flows and undrawn securitisation capacity supporting further expansion. Overall, Cash Converters is delivering on its strategic transformation, simplifying the model, scaling up, and driving sustainable earnings growth.

Cash Converters expects to continue growing its core loan book, with a target of 40+ new corporate stores in Australia and the UK over the next 5 years. The company also anticipates further margin expansion in its retail segment through the growing luxury goods mix.

Cash Converters is well-positioned for continued growth, with diversified earnings streams, a simplified lending model, and an expanding store network. The company remains focused on delivering sustainable earnings growth and shareholder returns.