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PRA Group Inc.

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PRA Group's second quarter top line and bottom line met expectation though results were hit by non-cash charges and steady fall in cash collections in Americas-insolvency business. Besides, difficult Operations in competitive accounts receivable management industry, and drop in total estimated collections per unit of purchase price ratio, with higher interest expenses, are the main headwinds. However, the company remains optimistic about growth given the brimming acquisition pipeline in Europe and renewed supply of non-performing loans in the U.S. It seeks to leverage its access to low cost capital, low operation costs, scale and underwriting ability in each market for growth, as well as generate long term profitability. With growing core portfolios and profitable investments, what is tipping the balance in favor of growth are its strategic acquisitions and purchase of finance receivables, strong balance sheet and inorganic growth strategies.


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