Shares of Credit Corp (ASX:CCP) have fallen as much as 1.9% to A$19.82, reaching their lowest level since July 11th.

The company is on track for its worst weekly fall since April 24, 2020, if current losses maintain their momentum.

Earlier this week, the credit management services company predicted lower profits for the 2024 financial year.

The company expects its NPAT to be in the range of A$90 million to A$100 million in the 2024 fiscal year.

The company reported profit for the year of A$91.3 million, lower than the previous year’s profit of A$100.7 million.

The shares of Credit Corp (ASX:CCP) are up 7.5% YTD, as of last recorded close.

Credit Corp (ASX:CCP) is a leading credit management and debt collection agency providing financial services.