EML'S EARNINGS SOAR

Written on the 23 February 2017 by Laura Daquino

EML'S EARNINGS SOAR

EML Payments' (ASX: EML) earnings have soared 226 per cent for first half 2017.

The Brisbane payments provider took in $9.96 million in earnings before interest, taxes, depreciation and amortisation.  Depreciation in the Sterling relative to the Australian Dollar in fact lowered this result by $1 million.

EML generated 85 per cent of revenue offshore, while 90 per cent of its total revenues were recurring in nature.

Its revenue rose 207 per cent to $32.4 million during the period.

EML's global partners include VISA, MasterCard and eftpos.

EML has recently announced several new business partnerships, the most significant, it believes, entry into the salary packaging segment in Australia.

The company says its differentiated salary packing product will become a key vertical for its Australian business going forward, where it expects to support more than 120,000 cardholders.

Further coverage of EML Payments:

- EML announced in January it had finalised one of its 'most important agreements to date'.

- Read about the strategy of EML Payments managing director Tom Cregan, who had his golden moment of insight while visiting Las Vegas.

Business News Australia
 
Author: Laura Daquino Connect via: Twitter LinkedIn

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