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Thorn shifts focus to Radio Rentals

Radio rentalsThe owner of Radio Rentals has sold its receivables management business in a bid to focus on the appliance chain and other primary finance business.

The proceeds from the sale of the NCML receivables management business to Credit Corp Group for approximately $22.6 million will be reinvested in the two businesses which deliver higher returns on capital.

Thorn said the sale provides a good outcome for NCML employees who transfer to Credit Corp.

Earlier this year, Thorn lifted its annual profit 8.7 per cent to $30.6 million, with Radio Rentals the biggest contributor.

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