Lease losses manageable at FlexiGroup
FlexiGroup, a lease finance company that targets the small business and home office segment, said yesterday that impairment losses and provisions remained at acceptable levels.The group published updated profit guidance for the year to June 2009. The company now expects to report a net profit of around $32 million, compared with earlier guidance of $28 million to $30 million.The company said the revised guidance was "a consequence of earlier realisation of synergies from the acquisition of credit provider Certegy and better than expected fee and other income."