Thorn Group FY profit up

Company News

Thorn Group Limited (ASX:TGA) has reported a full year net profit of $27.8 million to March 31 this year, representing a 26.4 per cent increase from the year before.

The diversified financial services company has attributed an increase across all divisions for its earnings growth with its Radio Rentals core business a significant contributor to the result.

In the 12 months, revenue rose 19.2 per cent. Thorn has taken a cautious outlook despite its rate of growth over the past years and says the subdued economy and poor retail conditions may slow down its growth rate in the FY 2013.

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