Point-of-sale financing group ThinkSmart has announced plans to undertake an $8.8 million capital raising, delist from the ASX and jump over to London's AIM.
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Financing group ThinkSmart has reported a six-month net profit of $11.3 million, up 391 per cent from its posted $2.3 million in full-year profit result in February.
Point of sale financing group ThinkSmart has returned to positive territory, posting a $2.3 million full-year net profit in 2013 after recording a loss in 2012.
ThinkSmart shares have shot up 39 per cent upon its announced agreement to sell its Australian and New Zealand businesses to financial services company FlexiGroup for $43 million to shift focus to its operations in the United Kingdom.
Keith Jones has been named the new chief executive at ThinkSmart, effective February 2014 while current CEO and founder, Ned Montarello will remain executive chairman.
Point-of-sale financing solutions group ThinkSmart has entered into a trading agreement with a division of Europe's largest home improvement retail group, Kingfisher, for an innovative gas boiler product.
Computer and office equipment financier ThinkSmart has doubled its UK sales in just four weeks after the launch of its new "Infinity" consumer product received a positive early response.
Computer and office equipment financing company ThinkSmart has signed a three-year distribution agreement with a leading European electrical retailer that will see the company provide its B2B rental finance product in almost 20 locations across Spain.
International computer and office equipment financing company, ThinkSmart Ltd, has exceeded its full year prospectus forecast, posting a net profit after tax of $5.1 million, higher than the forecasted $5 million.
RentSmart's business partners include Australia's two largest retail groups, Coles Myer and Woolworths, two of Australia's biggest banks in ANZ and National, and global IT suppliers Hewlett-Packard and Compaq, which merged last year to form HP.