Aussie ATM independent logs 12th straight quarter of growth

Australian ATM independent Stargroup Ltd. has announced its 12th consecutive quarter of revenue.

A press release from the company included a statement by CEO and executive chairman Todd Zani on the achievement:

Our half year ATM revenues were a 218 percent improvement when compared with the prior half-year result and our total group revenues have also improved 206 percent when compared over the same period, which is an excellent result for the first half of this fiscal year.

We have seen excellent organic growth in the last quarter with our revenues up 36 percent on the prior quarterly result.

Zani said the company anticipates next-quarter revenues will best current quarter results by another 31 percent. The prediction is based on expectations for continued organic growth and revenues anticipated from the integration of Indue businesses into the group.

According to the release, Stargroup has completed due diligence for the acquisition of Indue, an ATM switching, settlement processing, telecommunications business and an ATM reseller, and is in the process of finalizing the transaction.

Topics: Distributors / ISO / IAD, Public Companies

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