Receivables' management company, Collection House, has been embargoed from carrying out collection activities in the flood and cyclone hit areas of Queensland and Victoria, but the impact of the freeze is not serious enough to affect the company's earnings outlook for the 2010/11 financial year.Collection House chief executive Matt Thomas said lenders, on whose behalf the company chases up delinquent accounts, had frozen collection activities on "a large number of accounts" over the past couple of months and were likely to follow the same course of action in Christchurch.Thomas said the impact on the company's earnings was still uncertain, but he was confident there was no need to issue a downgrade.Yesterday, Collection House reported a solid result for the six months to December, with revenue up six per cent and pre-tax earnings up nine per cent on the previous corresponding period.Net profit, of A$5.1 million, was down seven per cent on the previous period due to a doubling of the company's tax bill.A sign of the company's confidence in its outlook was its decision to outlay A$25.9 million on debt ledger purchases during the half - its biggest purchase since 2008.Thomas said the purchase was financed largely from operating cash flow. His plan is to finance future purchases through cash flow.