Mmegi: "For the year, Letshego expects profit before tax to be 14 percent higher than the prior financial year, while profit after tax is expected to be 24 percent higher. "Impairment charges remain below two percent of average advances to customers," it said in a statement. "Debt to equity ratio is 34 percent at January 31 2012 with shareholders' funds over P2.3 billion." Letshego fell into troubled waters last year after government announced that it would stop deducting micro loan repayments from source, a development that was certain to impact heavily on the company's repayment recovery rate.
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