Stargroup ATM revenue increases 65%
Stargroup (ASX:STL) today announced further record revenue increases as it continues its quarter on quarter rise.
The figures released by STL represent its ninth quarter in a row of record revenue.
Further to its revenue figures, STL’s ATM transactions were up by 51% on the previous quarter.
“The transactions on our ATM network were up 51% on the previous quarter and this is the second quarter that we have delivered greater than 50% growth,” said Stargroup CEO Todd Zani.
Our total revenue in the last quarter was 85% of the revenue achieved in the entire first half year result and this is testament to our disciplined principle of only placing our ATM machines in high quality sites that our experience tells us will yield acceptable capital returns.”
STL has successfully migrated all of its Cash Plus ATMs acquired in December and is now taking market share.
“Our sales pipeline looks very good in the next quarter also,” said Mr Zani.
Looking to the future, STL is now in a position to increase the scale of its ATM operations and revisit key supply contracts.
The company is also working closely with Claim Co and Anthem Software to finalise the IP development of the mass rollout of its Eftpos/pay wave offering.
This will be rolled out to 50,000 people and the broader Australian market, creating a positive overall outlook for 2016.
“We are continuing to build a very solid ATM network and the release of the recycler ATM and our EFTPOS IP in the next quarter will allow us to continue to deliver consistent growth as part of the long term plans,” Mr Zani said.
Growth includes organic expansion of quality ATM sites, targeting smaller unlisted ATM deployers for mergers and acquisitions, entering the EFTPOS space, rolling out new technology products such as the recycler ATM and further sales of NeoICP ATMs and software in Australia.
Short-term positions in small, early stage ASX companies,
with high potential and near term price catalysts.
Focusing on resource exploration, early-stage tech, and biotech.
Exceptional opportunities across a broad range of
early-stage growth sectors with strong management.
Seeking 1,000% plus returns across medium to long-term holds.
Longer-term positions in a variety of sectors.
Seeking strong management where traction is established and have entered into a growth phase.
S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.
Conflict of Interest Notice
S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.
The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.