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ThinkSmart returns to profitability

Point-of-sale finance specialist ThinkSmart issued profit guidance yesterday, saying it expects to report a net profit of around A$500,000 for the six months to June - an increase of $2 million over the previous corresponding period.The company's chairman and chief executive, Ned Montarello, told investors at the company's annual general meeting yesterday that "soft volumes" in the RentSmart business were being offset by strong growth in the company's United Kingdom business.Montarello said the Fido payment plan was building volume and making "good progress".He also announced that the board had resolved to separate the roles of chairman and chief executive. Montarello will take on the role of executive chairman and the board will appoint a new chief executive.

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