Financing company and mobile broadband provider FlexiGroup (ASX:FXL) has reported a 31% increase in 1H profit to $25 million.
The company, which provides wireless data services on the Optus network through the BLiNK brand, said volumes from this business increased 87% to $179 million.
Its Flexirent financing unit grew sales volumes 9% to $117 million in what FlexiGroup said was partly down to success in serving the emerging tablet market.
The company expects tablet volumes of 1 million units in 2011 – half its computer and laptop quantities.
“Since the IPO in December 2006 [FlexiGroup has] more than doubled NPAT and volumes,” CEO John Delano said.
As a result of the strong showing, FlexiGroup upgraded its full-year profit guidance by 8.5% to between $50 million and $52 million.
This would be an improvement of between 20% and 25% on groupwide profit from FY10.
FXL shares climbed 7.9% during Thursday's trading to close at $1.840.