Market hits Transaction Capital despite solid results where WBC sparkles, grows 66%

Posted on 11/15/2022
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It may well have been a case of buy on rumour, sell on fact for traders as Transaction Capital’s share price fell 5% in the wake of the release of its financial results for the year to end September – that despite a 24% earnings rise and a 35% hike in the dividend payment. CEO David Hurwitz is unperturbed, projecting 20% plus growth into the forseeable future, the exponential expansion driven by exceptionally performing WeBuyCars (now 43% of group profit) and the debt collection and BPO division Nutun. In this results day interview with Alec Hogg of BizNews, Hurwitz multi-tasks his way to explaining why the future remains bright for the highly rated group – despite Mr Market’s negative initial reaction to the published figures.