FlexiGroup revenue rises 20%

Company News

by Mary Saliba

FlexiGroup (ASX:FXL) announced its revenue rose 20 per cent for the 2017 Financial Year hitting $445 million.

The financial group’s total net profit after tax dipped 4 per cent to $90.3 million from $97.0 million in FY16.

FlexiGroup says its total cash net profit after tax fell in 2017 on the back of rapid growth in interest free volume, but that will translate into higher FY19 profits.

The group saw its closing receivables rise 9 per cent to $2 billion in FY17.

Shares in FlexiGroup (ASX:FXL) are trading 8.40% lower to $1.69.
 

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