The $334million payments provider Findi has had a ripper year. … Continued
3 June 2024
Small-cap fintech players Findi and OFX are marking one of their best days on the bourse with strong results triggering a double-digit jump in their share prices.
Digital payments business Findi, which is working towards a Bombay Stock Exchange listing in India, is up 23 per cent to $3.74 in afternoon (AEST) trade. International money transfer business OFX has gained 12.4 per cent to $1.91.
Earlier on Tuesday, Findi reported a 22 per cent jump in FY24 revenue to $66.5m, driven by the strong performance of the core ATM business and continued growth of FindiPay’s merchant network. Earnings before interest, tax, depreciation and amortisation is up 63 per cent to $27.4m and the group booked a profit of $4m, compared to its $2.4m result in FY23.
OFX delivered results in line with guidance with its full year net operating income of $227.5m, up 6.3 per cent on the prior corresponding period, with underlying EBITDA of $64.6m, a 3.4 per cent gain.
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