Sharechat Logo

Xero Limited

Friday 5th October 2012

Text too small?

Xero, the cloud-based accounting platform provider, more than doubled first-half sales and expects to list across the Tasman next month as it boosts its operations in Australia.

Operating revenue will be worth of $16.7 million in the six months ended Sept. 30, up from $7.9 million a year earlier. Its annualised monthly committed revenue accelerated to $38.7 million at the end of September, from $34.5 million flagged at its July annual meeting. Xero is proceeding with its plan for a secondary listing on the ASX.

The Australian region has shown particularly strong growth, with a tripling of the numbers of paying customers, on the back of the integrated payroll features and significant growth in numbers of accounting and bookkeeping partners," the company said. Xero added a further 11,800 customers since the July meeting, taking its client base to 111,800.

New Zealand clients account for 51 percent of the company's book, while Australian customers make up 29 percent. The push into Australia will heat up competition with MYOB, Australasia's dominant payment solutions firm, which has recently launched a cloud-based suite of services.

In the chart, it shows that Xero share had a every strong uptrend in last three years. Its share price rised more than 2.5 times through the period. As the demond of Xero's products keeps growth localy and in overseas, its share price has a great potential to keep soaring.

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Xero’s Drury says $180M capital raise ‘sends strong signal’ to competitors
Xero raises $180M selling shares at premium to Matrix, Thiel, others
Xero shares halted pending outcome of capital raising
Xero adds another 36k customers since March, sees 80 percent lift in 2014 sales, wider loss
Xero tells NZX that 23 percent slump in shares reflects volatility in tightly held register
Xero cracks $2 bln market cap, lifting Drury's paper fortune to $388M
Xero topples Port of Tauranga as highest price local stock on NZX
Xero chair, COO book million-dollar paydays after shares more than triple in past year
Xero posts $14.4 mln FY loss, doubles revenue and paying customers
Xero adds 23k customers since September, expects to double annual sales