Debt collector Collection House has reported a big increase in net profit for the six months to December on the back of higher distressed debt acquisitions.Collection House reported a net profit of A$9.4 million for the half-year - an increase of 16.2 per cent over the previous corresponding period. The return on equity was 13.2 per cent - up from 12.6 per cent for the six months to December 2012.Back in 2011, the company was underperforming, with an ROE of around 10 per cent, and it made it a goal to achieve a higher return.The company spent $38.4 million in debt acquisitions, compared with acquisitions of $33.9 million in the previous corresponding period.Collection House chief executive Matt Thomas said in a statement that the company would purchase about the same amount of debt in the June half.Thomas said: "Increased debt ledger investments demonstrate an accelerating buying program as our stronger capital position is put to work to capture market share."The company maintained its EBIT margin at 31 per cent, while reducing its gearing ratio from 45.5 per cent to 37.2 per cent.