Thorn Group Ltd posted a net profit after tax of $19.5 million, up by 32.8 per cent from previous year's $12.3 million.

The company's revenue has grown 14 per cent to $145.1 million, normalised earnings per share is up 32 per cent to 12.69 cents, final dividend is up from 2.91 cents to 3.76 cents and gearing is lower, with debt to equity at 7.34 per cent.

Thorn Group, which owns Radio Rentals, said its earning result means the group has doubled profit since its listing three years ago.

Thorn Group managing director John Hughes said," Results were particularly pleasing given prevailing economic conditions and Thorn's ongoing investment in strategic growth initiatives."

The company reported an 8.8 per cent increase in customer numbers for Radio Rentals and Rentlo business, citing that more consumers chose its "Rent, Try, $1 Buy" offering as a means of accessing an increasing range of household goods. Thorn Group said its overall customers increased by 10.5 per cent.

"Our customers are showing there is strong and growing demand for our 'Rent, Try, $1 Buy' offering and our Responsible Rental and Lending Policy has meant lower customer arrears and bad debts, " said Hughes.

Thorn Group said among the most popular rental products were flat panel TVs, with demand up 28 per cent and expected to continue strongly as households switch over to digital broadcasting and desire increasing larger screens.