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.

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.

Advertisement
Advertisement

PROMOTED CONTENT


“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

The RBA has studied the role of collateral in credit markets under stress, and has found that collateralised borrowing rose for some segment...

Auction volumes surged significantly over the December quarter across Australia, largely attributed to a “resurgence” in Melbourne, acco...

Loan conditions and collateral guarantees continue to be major stumbling blocks for small businesses looking to access financing, according ...

FROM THE WEB

Join a group of highly informed brokers.

Broker Pulse, a community-driven knowledge base of lender performance Reveal exactly which lenders are making life easiest for brokers and their clients by taking this monthly survey and joining a group of highly informed brokers who leverage these insights every month.

JOIN NOW
podcast

LATEST PODCAST: A new record in mortgage approvals

Do you expect to see strong uptake of the HomeBuilder scheme?

Website Notifications

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