Payment terminal supplier Smartpay increased revenue in the September half-year, despite the recent COVID lockdown impacting the size of its Australian terminal fleet.

At the end of the June quarter, the company reported that the number of “Australian transacting terminals” was 7306. That number fell to 7149 and the end of August and then 6700 at the end of September.

Yesterday it reported that at the end of October the number was 8083.

The company reported revenue of A$21 million for the six months to September, an increase of 44.8 per cent over the previous corresponding period.

However, expenses grew 55.2 per cent and EBITDA was up just 10 per cent to $3.7 million. Cash flow from operating activities was $4.4 million.

The company said the big increase in expenses was due, in part, to marketing costs related customer acquisition.

Net profit of $366,000 was a turnaround from a loss of $9.3 million in the previous corresponding period.

Most of the growth in revenue was in the Australian market, where the company has focused its activities in the past couple of years. 

Australian sales rose from $7.1 million in the six months to September 2020 to $13.5 million in the latest half, while New Zealand revenue rose from $7.5 million to $8.9 million over the same period.