The Silver Chef hospitality division has performed in line with expectations according to end of year results from the business equipment financier.

For the year to 30 June 2012, revenue across the company increased by 33.8 percent to $84.2 million and net profit after tax rose 34.4 percent to $9 million.

In March 2012 the company raised $10 million and increased its debt with the Commonwealth Bank from $70 million to $110 million to fund the purchase of additional rental assets.

The company has more than 12,000 rental agreements across its hospitality division and the GoGetta business providing funding to small and medium sized firms.

The food franchise sector is a new development for Silver Chef and has contributed to its success in the hospitality division; more than 100 franchise brands made use of funding options last financial year.

Silver Chef also expanded into the New Zealand market, and the Go Getta business introduced a longer term rental model, Go.Own.Plus.

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