Stargroup has already achieved a record quarter of revenue, ahead of the close of the December quarter, the 12th record period in a row. Revenues in the months of October and November outstripped total revenue for the previous quarter. Stargroup Executive Chairman Todd Zani said the next quarter was also tracking towards a further record based on the Company’s current contracted revenues in place and the opportunities presented by the vertical integration of the recently aquired Indue business.
HIGHLIGHTS
- Record Quarter of Revenue achieved in first two months of this quarter
- 299% increase in actual annual group revenues in 2016 compared to 2015
- 265% improvement in 2016 YTD ATM revenue compared to 2015 YTD ATM revenue
- 30% increase in projected quarterly revenue on back of further organic growth
Stargroup Limited (ASX : STL) (“Stargroup or the Company”) is pleased to announce that it has already achieved a record quarter of revenue, the 12th in a row, with revenues in the months of October and November already outstripping the revenues from July, August and September, as highlighted below:
Mr Todd Zani, Stargroup’s CEO and Executive Chairman said “Our group revenues in the last two months have already surpassed our prior quarterly revenues and this is obviously going to be another record quarter for the Company, our 12th in a row. Further, we are already well on track for a 13th record quarter in the first quarter of next year based on our current contracted revenues in place.
I have just returned from a roadshow with representatives from Indue Limited through Brisbane, Sydney and Melbourne, meeting with a large number of the 76 ATM Deployers that we will be providing processing services to in 2017 and beyond.
I am excited by the opportunities that will be available to the Company and we look forward to the vertical integration of the Indue businesses into our group of companies and the projections outlined in our recent AGM to our shareholders in terms of our future revenues and EBITDA are well on track,” said Mr Zani.
Stargroup recently announced to the market that it had completed its due diligence of the ATM switching, settlement processing, telecommunications and ATM reseller business operated by Indue Limited and that both parties had agreed to the key terms of the asset sale agreement and other contractual documentation in relation to the transaction.
