Afterpay sees strong quarterly sales, positive outlook FY18

Company News

by Liz Pal

Afterpay Touch Group (ASX:APT) reported strong quarterly sales of $367 million up from $271 million from the 4th quarter of 2017.

The tech payments company, provided its business update for the three month period ending on the 30th September, and says its underlying annualised sales are on track in excess of $1.5 billion, despite a seasonally weak retail industry performance.

Over 8,600 merchants are now on board, serving over 1.1 million customers, where new customers continue to grow by more than 3,000 a day.

Afterpay New Zealand is also gaining momentum, as it looks to finalise a $20 million term sheet with a major domestic bank.

Shares in Afterpay (ASX:APT) are trading 9.57 per cent higher at $5.15.
 

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