Finbond’s profit margin increased from 8.9 percent of turnover last year to 10.2 percent this year.
The majority of profit for the year was derived from small personal loans. The operating cost-to-income ratio improved this year to end the financial year at 61.1 percent.
Finbond’s focus remained on small, short-term loans. The company said despite continued strong competition in the short-term loan market over the past 12 months it still had a 30 percent market share of all two- and three-month loans in South Africa.
During the 12 months under review, the company’s headline earnings per share increased by 77 percent, to 18.6 cents compared with 10.5c last year. Operating profit from continuing operations increased by 194 percent to R279.4 million compared with R94.9 million last year.
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Earnings before interest, tax, depreciation and amortisation gained 137 percent to R462.9 million compared with R195.3 million last year.
The company said these results were achieved in a particularly trying and challenging operating environment.