Short-term lender Cash Converters reported record revenue and earnings for the year to June, with a net profit of A$27.6 million, up 27 per cent on the previous year.The company, which operates pawn shops and payday lending operations in Australia and the United Kingdom, returned about $1.5 million below expectations as a result of flood damage to a store in Goodna, Queensland. Revenue rose 47 per cent, to $186.1 million. Earnings per share rose 10.6 per cent.For the past couple of years the company has pursued a strategy of buying back franchise outlets. Company-owned stores earn a higher margin.It acquired six stores in the UK and 15 in Australia.  Total corporate store numbers stand at 88, with 46 in the UK and 42 in Australia.The Australian personal loan book increased 36 per cent to $52.7 million. The UK loan book increased 746 per cent to £5 million.An indication of the high-risk, high-return nature of the business is that it generated $24.4 million of earnings before interest and tax on its loan book and incurred a bad debt expense of $11.5 million.Cash Converters completed a share transaction during the year that resulted in 53 per cent of the company being held by US short-term lender EZCORP, which paid $70 million for its controlling interest. Cash Converters' chairman, Reginald Webb, said, in a statement yesterday, that the proceeds of the transaction would be used to accelerate its push overseas.