Financial technology company Afterpay (ASX:APT) has reported a gross profit of $85.7million that’s up 386 per cent from the prior corresponding period last year.
Group Revenue and other Income of $142.3m, up 390 per cent on FY17, driven by an increase in Afterpay underlying sales and a stable merchant revenue margin.
Group EBITDA (excluding significant items) of $33.8 million in line with guidance.
Afterpay Touch has announced its launch in the UK with the acquisition of payments company ClearPay.
The Group is undertaking a fully underwritten Institutional Placement to eligible investors, to raise at least $108.1m to fund Afterpay’s international expansion strategy.
No dividends were declared or paid for the year ended 30 June 2018.
Shares in Afterpay (ASX:APT) are on a trading halt, last traded at $18.55