Thorn Group yesterday reported revenue growth of 20 per cent for the six months to September and a 30 per cent increase in net profit. The result was boosted by the addition of earnings from National Credit Management Ltd, which was acquired in March.Net profit for the half was A$14.3 million - up from $11 million in the previous corresponding period. Earnings per share were up 19 per cent.The company booked revenue of $96.2 million during the half. The rental businesses - Radio Rentals and Rentlo - accounted for $80.2 million of the total. Rental revenue was up 5.1 per cent, from $76.3 million, on the previous corresponding period.The credit management division, National Credit Management Ltd, accounted for $12.1 million of total revenue.Other operations - Thorn Equipment Finance and the lending business Cashfirst - contributed revenue of $3.9 million. Other revenue was down about 0.4 per cent from the previous corresponding period.Thorn's managing director, John Hughes, said the integration of NCML was going well. Thorn is using NCML as the base to develop a full account-management outsourcing service - offering businesses loan-underwriting, credit scoring and other credit management services.Not long after Thorn acquired NCML, the company lost a debt collection contract with the Australian Taxation Office. Hughes said that in October and November NCML secured contracts with two of the major banks.NCML did not purchase any debt ledgers during the half, citing high market prices.Hughes said the Government's proposed restrictions on payday lending would not affect the Cashfirst business. The average Cashfirst loan, which is more than $2000, and has a life of more than two years, does not fall into the payday loan category.The value of the company's rental assets has increased by $4.9 million to $46.1 million. Its cash loans have increased by $2.8 million to $15 million, and the value of finance leases has increased by $4.9 million to $61.8 million.Rental account delinquencies (30 days or more in arrears) have fallen from around 20 per cent early in the year to around 15 per cent.