Australian shares to sink; Fortescue Future Industries FY23 spend $US600m to $US700m; Lovisa flags strong start to FY23; Adore revenue down 28pc in first 7 weeks of FY23. Follow the latest here.
Tyro Payments has reported normalised EBITDA of $10.7 million for FY22, down from $14.2 million in the prior year.
Group revenue increased 36.7 per cent to $326.1 million while statutory gross profit rose 29.5 per cent to $154.7 million. On a normalised basis, gross profit climbed 24 per cent to $148.5 million. The company said a record $34.2 billion in transaction value was processed on behalf of Tyro’s 63,700 merchants during the year.
Tyro said it has had a strong start to FY23 with transaction values for July lifting 46 per cent on the same period last year to $3.4 billion, and August performance up 70 per cent on the same period last year to $2.9 billion. Tyro provided earnings guidance for FY23, with forecast transaction value between $40 billion to $42 billion, normalised gross profit of between $175 million to $181 million and target operating leverage at 85 per cent. Tyro is targeting being free cashflow positive on exiting FY23.
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