ThinkSmart Limited (ASX:TSM) says its first half net profit has risen 5 per cent to $2.88 million.
The computer and office equipment financing company says the growth was underpinned by a strong result in the UK but pulled down by the exchange rate for the Australian dollar.
In the first half of this year total revenue rose 11 per cent, while UK derived revenue was up 26 per cent.
CEO Ned Montarello has labeled the results from the company’s UK expansion as “encouraging”.
Looking ahead ThinkSmart is targeting to move to 100 per cent electronic processing to expand its distribution reach.
In the 2010 calendar year ThinkSmart reported a net profit of $6.8 million.
