Thinksmart has posted a full-year loss of $1.4 million, but the office equipment financing company expects to return to profit in 2013 on the back of double digit growth in new business volumes.
The result was down from a profit of $6.8 million in the previous year.
ThinkSmart attributed the 2012 loss to a difficult year for its Australian business, along with an ambitious transformation agenda exacerbated by a challenging trading environment.
However executive chairman and chief executive Ned Montarello said the financial performance of the group had turned a corner with the return to profit in the second half of 2012.
"The calendar year just passed was a year of transformation and the foundations have been laid for sustained growth," he said.
"We are pleased with the progress made in the UK and with Fido (the company news payment plan product) and look forward to building on this momentum in 2013."Thinksmart shares were steady at 25.5 cents at 9.40am.
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