Melio acquisition weighs on Xero profits but revenues surge
The results come after a difficult week for the company, which is dealing with allegations against founder Sir Rod Drury.
Xero chief executive Sukhinder Singh Cassidy sent an email to customers this week apologising for a technical outage.
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Revenues have surged but full year profits have plunged at ASX-listed accounting software provider Xero as the company continues to integrate its US payments acquisition Melio.
The New Zealand-founded company today reported its earnings for the year to the end of March, with a 27% fall in net
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