CCP today announced their first half results for 2022.

Revenue up 8% on pcp to $203.9m, NPAT up 8% to $45.7m. 'A solid start to the year.'

This company is a steady achiever which I have owned for 8 years with an annual return of 25%. Given that many of my more 'growthy' holdings have suffered falls of 10-20% in the past few months, its good to have some boring companies in my RL portfolio to reduce overall volatility. CCP seems to have been immune from the recent negative market sentiment and is still close to its 52-week high.

I continue to hold with high conviction - the company is still a market leader in a modestly-growing market. Growth will come from purchasing more debt and making more consumer loans. Loans are only 20% of revenue and 13% of NPAT but the share of the pie should increase with increased promotion of the loan products being planned in the US.