Plan B Group has reported a 29.6% fall in net profit to $3.23 million for the 2012 financial year.

Revenue was up 1.1% on last year to $38.6 million, while operating expenses rose 6.5% to $32.7 million.

Chairman Bryan Taylor says the group’s bottom line was hit by difficult trading conditions, leading to flat revenue growth.

This will be the dealer group’s last result as an independent company, after directors recommended acceptance of the IOOF takeover. By last Friday IOOF had bought 54% of Plan B’s shares, with the offer closing on September 11.