Store finance company FlexiGroup passed a significant milestone during the 2013/14 financial year when its no-interest finance business overtook its traditional core business of consumer and small business leasing as its biggest source of earnings.FlexiGroup's no-interest division Certegy contributed A$32.2 million of cash earnings to the group's total cash earnings of $85 million for the 12 months to June. The consumer and SME leasing division contributed $26 million.FlexiGroup bought Certegy in 2008. It sells a purchase payment plan called Ezi-pay. Consumers pay an application fee and a monthly processing fee but no interest at any stage. The retailer pays Certegy for the cost of the finance.The company's acquisition of Certegy, along with several other acquisitions, have allowed it to maintain a high rate of earnings growth and not get stuck in the low-growth consumer leasing segment.FlexiGroup reported net profit of $57.6 million for the year to June - down 13 per cent from the previous corresponding period. After adjusting for a write-off of intangibles and other one-off items, cash profit was $85 million - an increase of 18 per cent.Volume (the value of finance provided to customers) exceeded $1 billion for the first time.The company's return on equity was 23 per cent.FlexiGroup is a highly acquisitive company. In addition to Certegy, in recent years it has bought two interest-free card business, Lombard and Once,  rival store finance business RentSmart, and Think Office Technology.The cards division, Lombard and Once, contributed $11 million of cash profit - an increase of more than 300 per cent. New Zealand leasing contributed $5.6 million - an increase of 30 per cent. Enterprise Leasing contributed $10.1 million - an increase of 15 per cent. FlexiGroup chief executive Tarek Robbiati said the company aimed to integrate its products so that it could offer retailers "whole of business" agreements, distribute more through digital channels and generate more repeat business through loyalty programs."There is significant potential. We have 70,000 VIP [loyalty program] members and the pool is ten times that number," Robbiati said.FlexiGroup chief financial officer David Stevens said the company reduced its cost of funds by 110 basis points by refinancing acquired businesses and taking advantage of tight pricing in the securitisation market. Stevens said the company had substantial unused committed revolving facilities to fund growth. He said it would continue to securitise its receivables.