Although the total number of customers in Australia and the United Kingdom increased for both cash advances and personal loans, management's hand was forced to pencil in a 15.9% decline in EBITDA. The decline wasn't a result of poor performance and the company is quickly adapting to the changes. The cash advances business was worst affected, down 32.9% on the previous corresponding period to $4.9 million. Cash Converters' UK offices account for a small percentage of earnings compared to Australia despite having more stores, 61 versus 63, respectively. However, the UK operations are yet to reach maturity and an impairment charge for bad debts – which accounted for a majority of the 25.1% decline in the division's personal loan portfolio – resulted in a 63.8% dip in EBITDA across both UK financial services divisions.