Flexigroup profit, one-offs rise
FlexiGroup Limited (FXL) said a positive tax ruling from its initial listing in 2006 meant $15 million would be added to the company’s bottom line when the it reports half-yearly results this month. The retail point-of-sale finance solution provider also said that it expected core FY10 post-tax profit would be in the range of $39 million to $49 million, up from $37 million to $39 million previously forecast.
Flexigroup said it would use the influx of funds to reduce the company’s debt levels.
Looking at the numbers, Flexigroup said the growth was spurred by a 30% climb in core business profitability to $19 million.
The company also reported strong volume growth with assets financed and transaction volumes increased by 44% and 70% respectively in the six months to 31 December, primarily as a result of the contribution from Certegy and BLiNK Mobile Broadband.
The company is due to report its half year results on 23 February, 2010.
At 1039 AEDT, Flexigroup shares were up 15.5c to $1.58.
Leave a Reply