Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
subscribe to our newsletter

FlexiGroup results in line with expectations

Diversified financial services group FlexiGroup has reported a modest increase in profit and volumes for the last financial year.

FlexiGroup – which currently provides various financial services including leasing, vendor finance, credit cards and lay-by payment options – increased its net profit by six per cent to $90.1 million over the 12 months to 30 June 2015.

The group’s volumes increased five per cent to $1.1 million for the 2014-15 financial year, while closing receivables rose eight per cent to $1.4 million.

Advertisement
Advertisement

FlexiGroup’s acting CEO, David Stevens, said the results were in line with the company’s expectations despite challenging volume performance in enterprise and SME segments.

“FlexiGroup has made significant progress with its strategic transformation program. The investment made in customer-facing digitisation projects is beginning to show benefits in both cost efficiency and customer experience, and these benefits are beginning to drive positive changes in customer behaviour,” he said.

“The company is also delivering significant benefits to our retail partners, with repeat-business value and continued improvements in service levels leading to an enviable group net promoter score of +15.

“We expect to drive further sales growth and operating efficiencies in the medium term.”

FlexiGroup announced last week the appointment of Andrew Abercrombie as its new chairman.

FlexiGroup results in line with expectations
mortgagebusiness

 

Latest News

Finance Minister Matthias Cormann has rejected claims that there has been a “concerted push” from Treasurer Josh Frydenberg to “lower ...

An Australian mortgage fintech has raised $70 million in a series C capital funding round, taking the lender’s total raise to $115 million...

A shortage of land supply has been a key factor in driving property prices upwards over the past decade, according to property economists. ...

FROM THE WEB
podcast

LATEST PODCAST: Transparency around rate cuts

Do you think the mortgage market will see more consolidation this year?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.