Vendor and point-of-sale finance specialist FlexiGroup has once again reaped the benefits of its well-managed diversification program.Yesterday, the company reported a net profit of A$65.8 million for the 12 months to June - an increase of 12 per cent over the previous corresponding period. After adjusting for non-recurring acquisition and redundancy costs, the company increased its cash profit by 16 per cent, to $72.1 million.Five years ago, FlexiGroup moved into the interest-free finance market when it bought a business called Certegy. Since then it has acquired other interest-free finance businesses, including Lombard Finance and, in May this year, Once Credit.Certegy sells a purchase payment plan called Ezi-pay. Consumers pay an application fee and a monthly processing fee but no interest at any stage. Retailers pay Certegy for the cost of the finance. The business contributed a cash profit of $27.5 million, up from $21.9 million in the previous corresponding period. Certegy picked up business financing purchases of government-subsidised solar panels.The contribution from the interest-free card businesses (Lombard and Once Credit) rose from a cash profit of $100,000 in 2011/12 to $2.7 million in the year to June. Lombard won a significant contract with Dick Smith Electronics, which started issuing interest-free cards in July.The company's traditional Flexirent business, which provides small ticket leases for IT, electronics and other goods, reported a four per cent fall in cash profit - down from $34.4 million in 2011/12 to $33.1 million in the year to June.The company is shifting the focus of this business to the small business market to offset soft retail conditions.Flexi Commercial, which services commercial equipment vendors and manufacturers, contributed a cash profit of $8.8 million - up 77 per cent on the previous year.The company said it expected its cash profit to grow by 17 per cent in the current financial year.