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Smartpay increases terminal share

29 November 2022 5:20AM

Payment terminal operator Smartpay has maintained its aggressive push to grow share in the Australian market and reaped the benefit of strong retail sales over the six months to September. Smartpay increased the number of terminals in Australia by 29.5 per cent, or 2800, during the September half. It has a fleet of 43,000 terminals – 12,546 in Australia and the rest in New Zealand, where terminal numbers were steady. The company claims to have 5 per cent of the Australian terminal market, which it estimates to be 250,000 terminals, up from a 3.9 per cent shares at the end of March. Revenue was up 68 per cent over the previous corresponding period to $35.4 million. Australian revenue grew 113 per cent year-on-year to $26.9 million.  Revenue growth was the result of higher terminal numbers and higher revenue per terminal. The company made a net profit of $3 million, compared with $425,000 in the September half last year. Cash flow from operating activities was $10.1 million, compared with $4.4 million in the previous corresponding period. The company reduced its debt to $10.5 million from $11.5 million in the previous corresponding period.

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