Smartpay strategy delivers profit growthby Smartpay
in Contactless Payments, EFTPOS
30 Nov 2016 | 0 Comments
Sydney, 28 November 2016: ASX / NZX listed fintech payments company, Smartpay (ASX: SMP; NZX: SPY), today announced a half year result of an 8% increase in Revenue and a 262% increase in Net Profit After Tax as it continues to benefit from growth in the payments industry across Australia and New Zealand.
Six Month Financial Highlights
Smartpay CEO Bradley Gerdis said, “I am pleased to announce increases in Revenue, EBITDA and Net Profit. Our growth reflects progress in both the Australian and New Zealand markets.
“Some of the key contributors include steady growth in Australian general retail terminal numbers with the launch of our D-series multi function terminal, including an initial sale to an Australian bank. In New Zealand, the launch of our latest transport technology resulted in increased revenue and profit from our largest customer.
Smartpay is pursuing market share from the traditional banking sector by providing innovative payments technology to Australia’s fast growing SME market.
Taking advantage of recent payments industry regulatory changes made by the Reserve Bank, Smartpay intends to offer merchants an acquiring facility alongside their terminal offering allowing the company to participate in the transaction fee pool. This will create further opportunities for growth and the opportunity to provide additional financial products and services to merchants.
“Smartpay continues to make solid progress and we expect to see further growth in all key metrics for the full year reflecting the positive contribution of the ongoing growth of our Australian business and the fact that the second half of our financial year is traditionally stronger than the first half.
“As per our full year guidance, we are targeting to deliver a full year profit at the highest level in the company’s history.
“With a solid foundation and growing profits, we’re taking the opportunity to invest in the development of the next level of payments innovation,” said Mr Gerdis.