Thorn Group Ltd, owner of the Radio Rentals and Rentlo brands, announced today that its net profit jumped 33% for the full year ended March 31, 2010. The earnings of the group were reported doubled in past three years.

The group also said that it registered some change in its customer base amid the global downturn.

Thorn Group said in a statement today that net profit after tax was reported of $A16.4 million for the year ended March 31, increasing by 33% while it was reported of $A12.3 million in the previous corresponding period.

Total revenue for the year was reported of $A145 million, increasing by 14% while it was reported of $A127.2 million in the previous corresponding year. Normalized earnings per share were reported of 12.69 cents, increasing by 32% comparing to previous fiscal.

“Results were particularly pleasing given prevailing economic conditions and Thorn's ongoing investment in strategic growth initiatives,” said John Hughes, managing director of Thorn Group.

The company also said that it had reported an increase of 8.8% in customer numbers for Radio Rentals and Rentlo business. Thorn Group also said that its overall customers increased by 10.5% in 12 months ended March 31. The company said that its 'Rent, Try, $1 Buy' offering showed strong and growing demand in the period.