Merchant services company SmartPay (NZX:SPY) has signalled it's on track to meet ebitda guidance for the 2011 year as it announced a 125% boost in profit for the first half.The company's unaudited financial results for the six months to September 30 had r
Merchant services company SmartPay (NZX:SPY) has signalled it’s on track to meet ebitda guidance for the 2011 year as it announced a 125% boost in profit for the first half.
The company’s unaudited financial results for the six months to September 30 had revenue at $21.7 million, up 21% from $17.9 million on the prior comparable period.
Gross profit increase 125% to $9 million and earnings before interest, tax, depreciation and amortisation was up to $1.7 million.
Managing director Ian Bailey said the company was on track to hit the lower end of its ebitda guidance range, now narrowed to between $7 million and $7.5 million.
Earlier this month Mr Bailey said the company was considering a listing on the ASX.
