FlexiGroup reports 16pc rise in H1 net profit to $32.6m FINANCING house FlexiGroup has delivered on its profit forecasts, today reporting a 16 per cent increase in half-year net profit to $32.6 million, giving new chief executive Tarek Robbiati a strong foundation from which to build the business. The group also reaffirmed profit growth of 11 per cent to 16 per cent in 2013. Mr Robbiati, the former deputy chief financial officer of Telstra and group managing director of Telstra International, to over as FlexiGroup's CEO on January 28. He intends to continue building the local business rather than looking at international acquisitions. FlexiGroup is chaired by former Qantas chair Margaret Jackson. The result was struck on a 21 per cent increase in volumes and the group paid a fully-franked interim dividend of 7 cents per share, up 17 per cent from the prior corresponding period. During the year FlexiGroup further diversified its revenue mix with the acquisition of Lombard Finance, providing entry into the $45 billion credit card market. Flexi said today that Lombard's net profit doubled in the half-year period. It also signed a key agreement with furniture retailer IKEA to provide interest free finance to approved IKEA customers across Australia. Flexi shares were 1.7 per cent lower in early morning trade.