New financial initiatives and company restructuring helped receivables manager Collection House restore profits, with half-year earnings of $3.4 million compared to only $0.7 million for the corresponding period.Exceptional items boost after tax profit to $9.5 million, due to the $7.4 million net profit from the disposal of non-core subsidiaries Australian Business Research and National Tenancy Database, less a $1.3 million charge for restructuring costs.EDITDA increased 28 percent to $22 million, with revenue up 13.2 per cent to $47.7 million.During the period, Collection House signed a new business relationship with a major Australia bank (further details have not been released), while renewing purchases from an existing client to purchase debt with a face value of $250 million.This increases by $13 million the debt collector's forward flow agreements for financial year 2008 to $65 million."As far as the new arrangement with the major bank is concerned, we will be buying debt for February through to June this year, and the following financial year we will be purchasing debt for seven months, if not longer. We may be buying for the whole of next financial year," said Tony Aveling, CEO of Collection House.Aveling said the new debt available for purchase is not due to deteriorating credit markets in Australia. "It's just competition in the market place." The debt comprises 180-day credit cards and personal loans, with credit cards accounting for a higher share. "I think that reflects the general trend that more people are using credit cards these days than taking out personal loans."