Q: Does Propel have any benefit of Cdn$ costs versus US$ sales and are tariffs a material issue?
5i Research Answer:
PRL has business in both countries, but expenses are typically matched to currencies. The cost of loans is the biggest expense, and this is matched to currency to reduce risks. There are some admin and head office expenses in C$ but we would not consider currency shifts to be material here. Tariffs should not impact the company directly, but certainly the negative economic impact of tariffs to both countries may have some impact.