Receivables manager Collection House says conditions are good in the debt collection market: there is plenty of debt for sale; new debt sellers are entering the market; and pricing on mainstream deals is "standard". This suggests that the company can continue its current strong earnings growth.Yesterday, Collection House reported a net profit A$15.6 million for the year to June - an increase of 23 per cent over the previous corresponding period.Revenue was up 9.2 per cent; tight expense management accounted for the big increase in the bottom line.During the 2012/13 year, the company spent $52.3 million on debt ledger acquisitions, with a carrying value of $196 million. It has forecast that it will spend between $60 million and $70 million acquiring debt ledgers in the current financial year.The yield on the debt portfolio improved, with collections representing a higher percentage of book value.Another win for the company was that more of its debt purchases were funded from operating cash flow. Its gearing ratio fell from 45 per cent to 41 per cent.