CSG finance division reports strong growth

The business technology supplier CSG Group has reported 30 per cent growth in receivables in its leasing and rental division, thanks to rapid growth in the Australian market.

CSG Finance Solutions is well established in New Zealand and was launched in Australia in 2013. The company said it had "seen a rapid sales uptake."

Receivables grew 30 per cent to A$201 million in the year to June and revenue was up 24 per cent to $23.6 million.

The division's profit before tax was $7.6 million. Bad debts as a percentage of receivables were steady at 0.5 per cent.

CSG made a net profit of $14.3 million - up from $12.1 million in 2013/14.