Xero posts 36% increase in revenue to NZ$552.8 million

Company News

by Rachael Jones

Accounting software company Xero (ASX:XRO) delivered operating revenue of NZ$552.8 million, a 36 per cent rise on the prior corresponding period.

Net loss for the year increased to $27.1 million primarily due to impairments in the first half of the year, with a net profit of $1.4 million achieved in the second half of the year.

EBITDA of $73.2 million increased from $48.2 million in the prior period year, while EBITDA excluding impairments increased 84 per cent to $91.8 million

International net subscriber additions exceeded those from Australia and New Zealand for the first time with subscribers from the UK accelerated significantly.

Shares in Xero (ASX:XRO) closed 1.04 per cent higher at $54.31 yesterday.