Sydney, 28 November 2017: ASX / NZX listed fintech payments company, Smartpay (ASX: SMP; NZX: SPY), today announced a half year result of a 68% increase in Net Profit After Tax as it continues to benefit from growth in the payments industry across Australia and New Zealand.
The business achieved continued profit growth in the period with EBITDA* up 5% and EPS up 70%. Some of the key contributors to the increase in profits include steady growth in Australian terminal numbers (set to hit 5,000 this month) and normalisation of the cost base following some large non-recurring costs in the previous period.
Smartpay’s Australian Acquiring capability went live in October 2017 with the first merchants onboarded November 2017. A staged roll-out is underway and is expected to lift both terminal volume growth and margin.
SmartConnect, a new cloud based payments platform, was recently launched as an integrated technology solution for major Australian bank.
See the Smartpay Interim Results Announcement or see the Results & Reports for full details.