Ann: 1H18 Results Presentation, page-48

  1. 4 Posts.
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    If we have a look at Afterpay (APT) and its bad debts- it is considerably worse than Z1P. APT completely misleads its investors by calculating its bad debts against its 'underlying merchant sales'. Z1P calculates it against its gross receivables which is much more accurate. If we were to calculate APT this way they would have a massive 8.15% in bad debts compared to just 2.28% for Z1P. Is this sustainable ?
 
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