Homechoice International HY interim HEPS up 37%

Homechoice International, a leading retailer and fintech company, recently announced its interim results, showcasing impressive growth in revenue and headlinings per share. The company's CEO, Sean Wibberley, highlighted the strong performance of the group, particularly in the fintech sector, which contributed significantly to the overall profits. With the fintech revenue up by 31%, Homechoice International saw a remarkable 37% increase in headlinings per share, garnering positive attention from the market. Wibberley attributed the success to the strategic expansion of the company's ecosystem, leveraging on the acquisition of a payments business and offering innovative financial products to a diverse customer base. The CEO emphasized the scalability of the fintech business and the potential for further growth in the future. The Homechoice International CEO discussed the evolution of their fintech business, which started with the Finchoice division targeting existing Homechoice retail customers with lending products and insurance. Over the years, the company expanded its portfolio by acquiring a payments business, Pages Now, specializing in buy now, pay later services. This strategic move allowed Homechoice International to establish three core verticals, including a lending engine, an insurance engine, and a payments engine, creating a comprehensive ecosystem for customer engagement. The success of the Pages Now product in attracting new customers has been instrumental in driving growth and increasing profit margins for the company. Wibberley also delved into the customer demographics for Homechoice International, noting that the buy now, pay later services appeal to a wider spectrum of income levels in South Africa. On the other hand, the traditional Finchoice customers primarily consist of lower to middle-income individuals, with a significant female representation due to the company's historical customer base. The CEO highlighted the potential for cross-selling financial products to the existing customer base and expanding market share in the lending and insurance sectors. With ambitious targets to increase customer numbers from 2.1 million to 5 million, Homechoice International aims to capitalize on the growing demand for innovative financial solutions. Looking ahead, Wibberley outlined the company's growth strategy, emphasizing the importance of sustainable expansion and continuous innovation in product offerings. By leveraging digital connectivity, personalized data, and algorithm-driven marketing, Homechoice International intends to enhance cross-selling opportunities and maximize the lifetime value of each customer. The CEO expressed confidence in the company's ability to sustain its growth trajectory and achieve long-term success in the competitive fintech market. In conclusion, Homechoice International's robust interim results reflect the company's strategic focus on fintech innovation and customer-centric solutions. With a solid foundation in place and a clear growth strategy, the company is well-positioned to capitalize on the increasing demand for digital financial services in South Africa. As Sean Wibberley leads Homechoice International towards future success, investors and stakeholders can look forward to continued growth and profitability in the dynamic fintech landscape.