Australians love their digital payments, even more so since the pandemic, and payments firms have been one of the big winners.
Tyro Payments has seen a strong first half of 2023 with a 37 per cent increase in the value of transactions to $21.7 billion compared to $15.8 billion the same time a year ago, according to preliminary figures lodged with the ASX.
Unaudited revenue jumped by nearly half to nearly $217 million, while normalised profit rose 40 per cent to $95.2 million for the first half of the year.
It’s lifted its earnings guidance for 2023 with forecast transaction value of between $42.5 billion to $43.5 billion, and sees gross profit of up to $191 million.
Tyro will release its audited half year profit on February 28.
Tyro shares rose as much as 11 per cent to $1.52.
Tyro chief executive Jon Davey says it’s been a good first half, although the firm is preparing for a slowdown.
“The first half of FY23 has been exceptionally strong, however in forecasting the second half of FY23, we are taking a cautious approach and have allowed for some softening of consumer trading conditions due to rising interest rates and other macro-economic factors,” he said.
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