Cash Converters' record profit

Second-hand goods seller and financial services provider Cash Converters has posted a record profit of A$16.2 million after its most successful financial year and expects further growth.

Revenue for the year ended June 30 was up 26.9 per cent at A$94.4 million compared with the year before, driven by an increase in personal loan interest and establishment fees of A$5.2 million.

It was also helped by an increase in corporate store revenue of A$14.9 million and an increase in financial services commission of about A$600,000.

Cash Converters said its British business improved, earnings were up almost 175 per cent and store numbers grew to 136.