Store finance specialist FlexiGroup reported net profit of A$24.5 million for the six months to December 2010 yesterday. The result was 31 per cent down on the previous corresponding period.Pre-tax earnings were up in the latest half, but in the December 2009 half-year the company boosted its net profit with a $9 million tax benefit.Impairment losses fell from $12.2 million to $11.4 million in the latest half, on customer loans that increased from $144.6 million to $157 million and on lease receivables that increased from $215 million to $221 million.The company said, in a statement, that volume growth was up by 27 per cent. Among the company's four divisions, sales for the mobile broadband plan provider, BLiNK (a 2009 start-up), increased 87 per cent to $10 million.The Certegy interest-free operation (acquired in 2008) increased sales by 23 per cent, to $179 million.Sales for the Flexirent business (a small ticket-leasing unit) were up nine per cent, to $117 million, and Flexi Commercial sales were up from $3 million to $26 million.The group's distribution network includes 11,000 retailers. It has contracts with Harvey Norman, Noel Leeming, Apple Resellers, Midas, the Good Guys and Bing Lee.