PRESS-NEWS.org - Press Release Distribution
PRESS RELEASES DISTRIBUTION

FlexiGroup Half Year Profit Up 31% - Upgrades FY11 NPAT Guidance

FlexiGroup Limited ("FlexiGroup") today reported a 31% increase in consolidated Cash Net Profit After Tax (NPAT) of $25 million for the 6 months ended 31 December 2010.

2011-02-18
SYDNEY, AUSTRALIA, February 18, 2011 (Press-News.org) Highlights:

- Cash net profit after tax (NPAT) of $25 million, a 31% increase
- 27% volume growth - strong contribution from all businesses
- Certegy is on track to double NPAT guidance provided at time of acquisition
- Fully franked interim dividend of 5 cents per share compared to 3 cents in 1H10
- Full year cash net profit after tax guidance upgraded to $50-$52 million

FlexiGroup Limited ("FlexiGroup") today reported a 31% increase in consolidated Cash Net Profit
After Tax (NPAT) of $25 million for the 6 months ended 31 December 2010. The Directors declared a fully franked interim dividend of 5 cents per share, compared to the 3 cents per share paid for the same period last year. The interim dividend will be paid on 15 April 2011. The result is underpinned by strong volume growth of 27% across the business.

- Sales volumes from Certegy Interest Free increased 23% to $179 million compared to the same period last year;
- Small ticket (Flexirent) outperformed the market by delivering sales volumes of $117 million, an increase of 9%.
- Vendor Finance (Flexi Commercial) increased to $26 million from $3 million; Mobile Broadband (BLiNK) increased 87% to $10 million.

Interest free (October 2008 acquisition), Mobile Broadband (February 2009 organic start-up) and Vendor Finance (December 2009 organic start up) contributed 65 per cent of volumes.
FlexiGroup Managing Director and Chief Executive Officer, John DeLano, said the strong results showed the company's diversification strategy was on track.

"Since the IPO in December 2006 we have more than doubled NPAT and volumes. We have diversified from one to four unique businesses in that time, with the three newest businesses now accounting for 65 per cent of all volumes and driving the company's growth. There continues to be significant growth potential in these businesses as we explore new market opportunities and innovation in our product offering.

"In particular Certegy has delivered an exceptional result and is on track to double the profit guidance provided at time of acquisition, with half year NPAT of $6 million compared to $3 million in 1H10.

"Our traditional small ticket Flexirent business has also delivered an excellent result in outperforming a challenging retail environment. Flexirent is capitalising on new sector opportunities, in particular the tablet market where volumes are forecast to grow to one million units in 2011 - about half the computer and laptop volumes," Mr DeLano said.

Growth outlook

FlexiGroup has upgraded its full year Cash NPAT guidance by 8.5% to $50-$52 million, which will deliver growth of between 20% and 25% from the 2010 full year Cash NPAT. This guidance is based in part on further growth in Certegy volumes and NPAT from new product initiatives particularly in the homeowner segment. The company will further leverage FlexiGroup's exclusive position in retailers by targeting growth in the emerging tablet market with our tablet/BLiNK Mobile Broadband bundle product.

FlexiGroup has a strong balance sheet and also continues to focus on value accretive acquisition opportunities.

Investors / Analysts Media

David Stevens Cameron Hamilton
T: 02 8905 2045 FD
T: 02 8298 6100
Garry McLennan
T: 02 8905 2163


ELSE PRESS RELEASES FROM THIS DATE:

SomnoMed CEO Transfers to the US

2011-02-18
SomnoMed Limited announced today that its CEO Ralf Barschow would transfer to the US in March 2011 and be based at the company's North American head office in Dallas, Texas. "In addition to his current role as global CEO of SomnoMed Limited, Mr. Barschow has been appointed President of SomnoMed North America," said SomnoMed Chairman Dr. Peter Neustadt. "The US is SomnoMed's most important market, generating almost two thirds of the company's global unit sales. Given the importance of the US market for the future growth of SomnoMed and the size of our company it ...

The Moon Rising Series By Laurie Bowler

The Moon Rising Series By Laurie Bowler
2011-02-18
What happens when a strange oddity with mixed DNA enters the world of vampires? Best Selling author Laurie Bowler answers this question and more in the Moon Rising series, a collection of stories containing suspense and imagination. Laurie Bowler's fresh and true voice that will affect you, disturb you, enrage you, or make you laugh. She will not, however, leave you cold, but hungry for more details and further stories Moon Rising introduces us to an entirely new world, where the balance is stricken between a vampire coven that is allowed to exist by a pack of ...

Boston-Area CPA Firm Rucci Bardaro & Barrett Promotes Paquin to Partner

Boston-Area CPA Firm Rucci Bardaro & Barrett Promotes Paquin to Partner
2011-02-18
Boston-area accounting and business advisory firm Rucci Bardaro & Barrett PC (www.rb-b.com) has elected Mark Paquin a Partner of the firm. As a full-fledged member of the firm's leadership team, Paquin will continue to direct and expand its Audit Practice Group. Paquin joined Rucci Bardaro & Barrett in 2004 as an accounting and auditing manager. He is a certified public accountant with over 20 years of tax, audit and accounting experience. He holds a master's degree in taxation from Bentley College, and a bachelor's degree in accounting and finance from Bridgewater State ...

Museum District Aesthetic Plastic Surgical Center, AlwaysYouthful.com, Offers Houston Clients Personalized Facelifts

2011-02-18
The ramifications of aging and gravity take their toll throughout the entire body, but are usually most noticeable in the facial area. Some of the more common problems center on loss of skin elasticity resulting in midface sagging, deep creases under the eyelids and on either side of the nose that extend down to the corners of the mouth. This is sometimes referred to as a marionette fold. Other issues include the development of jowls as a result of the loss of lower face muscle tone and what is commonly known as a turkey neck, which is due to excess fatty deposits and loose ...

Billion Dollar iGaming Bill Critical to New Jersey Economy

2011-02-18
An economic development study released by the Interactive Media Entertainment and Gaming Association (iMEGA) on the economic and fiscal impact of iGaming legislation currently awaiting the signature of New Jersey Governor Chris Christie (R) shows how regulating iGaming could revive the State's dismal economy. The long-term financial benefits of New Jersey's Intra-State Internet Gambling Bill (S490) are being heralded as a major catalyst for the recovery of the state's ailing economy, as well as a launch pad for its employment sector, as the State seeks to become the capital ...

Workwear for All the Weather - from Brookes

2011-02-18
There were glimpses of what was to come but for the time being it is looking as though we will have to wait for a sustained period of spring weather. Working outside amidst such mixed weather could be classed as problematic, though thankfully because of online retailer eBrookes.co.uk extensive range of quality workwear, the problem is made a little bit easier to solve. Currently retailing in their 11th year, ebrookes.co.uk specialises in quality and durable workwear which is also affordable. Established brands such as the likes of Carhartt, Dickies, and Fruit of the ...

DirectRooms.com - West Chester University's 12th Integrative Health Conference 2011

2011-02-18
The conference kicks off with a keynote speech on Friday 18th March at 7:30 PM in the Emilie K Asplundh Concert Hall. The keynote speaker is Dick Vermeil, the former head coach of the Philadelphia Eagles. On Saturday, workshops will be held at the West Chester University Graduate Business Centre from 8:00 AM until 12:30 PM. The event is sponsored by West Chester University's College of Health Sciences. Ticket information is as follows: - Keynote event only - $10.00 per person. - Early Bird Professional Package, which includes keynote event and workshops - $75.00. - ...

DirectRooms.com - Celebrate in the Park Festival 2011 in Canberra on 14 March 2011

2011-02-18
This year, Celebrate in the Park will be held on Monday 14th March 2011. The event is free to attend and is part of the main Canberra Festival. This year, the Celebrate in the Park event is sponsored by ACTTAB as always and will include plenty of music provided by local bands and headline acts. Families are welcome and there will be plenty to keep the little ones amused. At the end of the day, a fireworks display will be held - providing the impressive ending to the weeklong Canberra Festival activities. Last year's event saw over 25,000 visitors throughout the afternoon ...

DirectRooms.com - Boat Fans Ahead to Cambridge for The 2011 Xchanging Boat Race

2011-02-18
The event is free to watching from one of many vantage points, including starting locations around Putney Bridge, Putney Embankment, Bishops Park, mid-point locations at Hammersmith and Barnes, and finishing points around Chiswick Bridge and Dukes Meadows. Large screens at Bishops Park and Furnival Gardens ensure spectators can see the complete race before and after crews have passed their location. The Xchanging Boat Race features a contest between Oxford and Cambridge Universities. The brainchild of Charles Merivale, a Cambridge student and his friend Charles Wordsworth ...

Fantasy Racing Games Available at Fantazzle Fantasy Sports Games for the 2011 NASCAR Sprint Cup Series

2011-02-18
The 2011 fantasy racing season is gearing up as the Daytona 500 race officially starts the chase for the Sprint Cup this Sunday at 1PM EST. With that, Fantazzle Fantasy Sports Games is happy to announce the launch of several new fantasy racing games to support the 2011 NASCAR Sprint Cup series and add extra excitement for fantasy race fans everywhere. Now available at Fantazzle.com: Fantasy Racing Salary Cap Game - pick five drivers to form your fantasy racing team staying under a $1M salary cap. Salary Cap Fantasy Racing Game (unlimited) - pick five drivers from ...

LAST 30 PRESS RELEASES:

Twelve questions to ask your doctor for better brain health in the new year

Microelectronics Science Research Centers to lead charge on next-generation designs and prototypes

Study identifies genetic cause for yellow nail syndrome

New drug to prevent migraine may start working right away

Good news for people with MS: COVID-19 infection not tied to worsening symptoms

Department of Energy announces $179 million for Microelectronics Science Research Centers

Human-related activities continue to threaten global climate and productivity

Public shows greater acceptance of RSV vaccine as vaccine hesitancy appears to have plateaued

Unraveling the power and influence of language

Gene editing tool reduces Alzheimer’s plaque precursor in mice

TNF inhibitors prevent complications in kids with Crohn's disease, recommended as first-line therapies

Twisted Edison: Bright, elliptically polarized incandescent light

Structural cell protein also directly regulates gene transcription

Breaking boundaries: Researchers isolate quantum coherence in classical light systems

Brain map clarifies neuronal connectivity behind motor function

Researchers find compromised indoor air in homes following Marshall Fire

Months after Colorado's Marshall Fire, residents of surviving homes reported health symptoms, poor air quality

Identification of chemical constituents and blood-absorbed components of Shenqi Fuzheng extract based on UPLC-triple-TOF/MS technology

'Glass fences' hinder Japanese female faculty in international research, study finds

Vector winds forecast by numerical weather prediction models still in need of optimization

New research identifies key cellular mechanism driving Alzheimer’s disease

Trends in buprenorphine dispensing among adolescents and young adults in the US

Emergency department physicians vary widely in their likelihood of hospitalizing a patient, even within the same facility

Firearm and motor vehicle pediatric deaths— intersections of age, sex, race, and ethnicity

Association of state cannabis legalization with cannabis use disorder and cannabis poisoning

Gestational hypertension, preeclampsia, and eclampsia and future neurological disorders

Adoption of “hospital-at-home” programs remains concentrated among larger, urban, not-for-profit and academic hospitals

Unlocking the mysteries of the human gut

High-quality nanodiamonds for bioimaging and quantum sensing applications

New clinical practice guideline on the process for diagnosing Alzheimer’s disease or a related form of cognitive impairment or dementia

[Press-News.org] FlexiGroup Half Year Profit Up 31% - Upgrades FY11 NPAT Guidance
FlexiGroup Limited ("FlexiGroup") today reported a 31% increase in consolidated Cash Net Profit After Tax (NPAT) of $25 million for the 6 months ended 31 December 2010.