The latest update is out from Money3 Corporation Limited ( (AU:SVR) ).
Solvar Limited has announced an increase in funding for its on-market share buyback program, raising the maximum allocation to $35 million. This decision is driven by the company’s strong balance sheet and recent market volatility. Additionally, Solvar is involved in ongoing legal proceedings with ASIC in Australia and the Commerce Commission in New Zealand, with the ASIC case concluded and awaiting judgment. The company maintains its forecast for a normalized FY25 Net Profit After Tax of $34 million and plans to pay a final dividend of 6 cents.
More about Money3 Corporation Limited
Solvar Limited is a leading consumer and commercial finance company operating in Australia and New Zealand, with over 20 years of experience. The company specializes in automotive finance, having funded over $2 billion in vehicles and personal loans. Solvar dominates the used-vehicle finance market and leverages technology to offer a seamless loan application process.
YTD Price Performance: 11.19%
Average Trading Volume: 188,072
Technical Sentiment Signal: Buy
Current Market Cap: A$322.1M
Find detailed analytics on SVR stock on TipRanks’ Stock Analysis page.
