4
CHIEF EXECUTIVE OFFICER’S REPORT
Sound strategy,
well executed
DIVERSIFICATION AND PRODUCT
INNOVATION DRIVING GROWTH
Our fscal 2011 results show that the
diversifcation strategy set out three
years ago is driving growth and
delivering value to shareholders.
In a difcult retail environment,
the Group achieved 27% growth in
volume
2
and cash net proft after tax,
1
an exceptional result that involved
strong performances from all four
business units. Importantly, the
three businesses we have acquired
or grown organically since October
2008 – Certegy Interest Free, Flexi
Commercial Vendor Finance and Blink
Mobile Broadband – comprise 47%
of receivables and contribute 37% of
cash NPAT.
1
Our fscal 2011 results show that the diversifcation
strategy set out three years ago is driving growth
and delivering value to shareholders.
The strong contribution from these
new businesses meant FlexiGroup not
only withstood the challenging retail
conditions, but was able to prosper as
it found new opportunities for growth.
Our ability to develop and deliver
innovative products, and our “too
easy” culture helped us continue to
deliver a high level of performance.
Our balance sheet management
remains strong. We have a strong
capital position and highly diversifed
funding with committed facilities from
Australian and international fnancial
institutions to support our growth.