Pioneer Credit reports record profit and raises $17M

• Pioneer Credit announced a record preliminary unaudited net profit of $23.2 million alongside a $17 million capital raising.
• The company's full-year profit grew by 248%, while its share price remained unchanged at $0.70.
• The new institutional placement will fund expanded investment in debt portfolios to drive future earnings growth.

Pioneer Credit (ASX:PNC) achieved a record unaudited net profit of $23.2 million and launched a $17 million capital raise.

The profit represents a 248% increase over the $6.7 million reported in the previous year.

"FY26 was a record year for Pioneer," said Pioneer Managing Director Keith John.

The business invested $107.3 million in purchased debt portfolios, which beat its operational guidance by 34%.

Following the announcement, the Pioneer share price was unchanged at $0.70.

The company stated that the new funds will strengthen its balance sheet and expand future investment capacity.

Total cash collections also increased by 4% to reach $148.1 million over the twelve-month period.