Friday 3rd September 2021
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Please see attached slides and speech notes for the General Capital Limited Annual Meeting held at 11:00am.
The Board believes that to reach critical or optimal scale this business needs to continue growing for the coming 2 years and achieve total assets of between $100m and $150m. However as additional assets are acquired by General Finance through additional deposit funding, the Group is required to contribute additional capital to General Finance in order to satisfy the prudent capital ratio determined by the independent board of GFL or otherwise required under the Non-bank Deposit Takers Act 2013.
Outlook to 30 September 2021:
- We expect September to be a record 6 monthly profit for the group due to the continued growth in the balance sheet.
Outlook to 31 March 2022:
- Given the uncertainties of the Covid-19 pandemic and capital and debt raising efforts we are unable to accurately forecast the full year result at this time.
- However, Directors do currently expect that NPAT will be in the range of $650,000 – $850,000, but this will be dependent on:
Trading conditions post the Covid delta lockdown
The successful listing of Greenfern Industries
Raising at least $2.0m of new capital
Continued growth in deposits and loans
No unexpected major events
No adverse regulatory events
Please see the links below for details
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