Australian accounts receivable management firm Collection House spent most of its latest fiscal year concentrating on debt buying and collection activity as a part of a major turnaround, according to its annual report released Friday.
The Brisbane, Australia-based ARM reported last month the financial results of its year ended June 30, 2008 (“Australian Collection Agency Reports Big Gains in Turnaround,” Aug. 28). The company said that underlying profits increased 95 percent to A$7.4 million in the year. Revenues from continuing operations increased 17.7 percent to A$95.5 million. Total revenue, including from discontinued operations, totaled A$112 million, up from A$102 million in the prior year.
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