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

Company News

by Rachael Jones

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Last Updated: 28/02/2020 1:13 PM

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.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.