Smartpay reports good progress

smartpay, tap and go, contactless, purchase, credit card, paymentSmartpay has announced a 70 per cent increase in profit in the six months ending September 30, 2014.

The Auckland-based company reported that profit was $1.5 million compared with $900,000 in the previous year.

Revenue was $11.8 million, an increase of four per cent compared with $11.3 million a year earlier.

The growth in revenue was attributed to the conclusion of a long term payments software development project for an Australian state government transport authority, revenue contribution from the Epay deal announced in July, and growth in the terminal base in Australia.

EBITA was $4.8 million, an increase of two per cent compared with $4.7 million a year earlier (with the prior year normalised for the reporting of non-recurring items).

During the six month period to September 20, 2014, main achievements included a number of new distribution deals for the mobile integrated payments terminals, including provision of the mPos solution to ASB bank, the conclusion of the Epay deal, and the launch of a mobile taxi booking and payment app for New Zealand taxi partners.

Bradley Gerdis, SmartPay MD, said that the company is making pleasing progress in all aspects of business.

“With our team highly energized and focused on monetising these opportunities, we are very confident of the company’s current and future prospects,” he said.

You have 7 articles remaining. Unlock 15 free articles a month, it’s free.