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Payday lender Money3 also reported a jump in its online loan division, telling investors it was set to deliver "impressive returns". The company on Friday reported a lift in revenue from online loans from 1. 6 million to 8. 6 million after purchasing online lender Cash Train.
Cash Converters said it would sell its British stores and a £8. 7 million (16. 9 million) personal loan book, while lifting investment in Australia. It said the British network had "struggled in tough trading conditions" and it would "go back to basics" by selling its corporate stores and acting as a master franchisor. It also said it would stop operating auto financing business Carboodle because its volume growth had been too low.