Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Xero has $85 million of cash in first cashflow report

Xero has $85 million of cash in first cashflow report

Jan. 31 (BusinessDesk) – Accounting software firm Xero had $85 million of cash at the end of 2012 after raising $60 million in a private placement in December.

The figure is revealed in its first quarterly cashflow report, which is required by the ASX. Xero took up a secondary listing on ASX in November.

The report shows net operating and investing cash outflows for the quarter of $6 million.

Xero spent $6.48 million on staff costs in the quarter and $1.05 million on advertising and marketing.

Its receipts from customers were $10.12 million in the quarter and $25.96 million in the nine months to Dec. 31.

Earlier the company reported revenue of $17.3 million in accounts for the six months to Sept. 30 and operating expenses of $22.8 million. It said it had annualised committed revenue of $38.7 million.

Xero has about 3,000 shareholders and 48 percent of its shares are held by directors and staff.

In the capital raising, Peter Thiel-backed Valar Ventures of San Francisco invested $24 million and Massachusetts-based Matrix Capital Management invested $58 million. They also purchased collectively $22 million of existing shares from Xero’s three largest shareholders

The company is loss-making at present, judging it better to invest in accelerated growth to capture market share in the global market for online, cloud-based business systems.

The shares fell 0.7 percent to $7.25 in trading today.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Post-Post: Brian Roche To Step Down As NZ Post CEO

Brian Roche will step down as chief executive of New Zealand Post in April 2017, having led the state-owned postal service's drive to adjust to shrinking mail volumes with a combination of cost cuts, asset sales, modernisation and expansion of new businesses. More>>

ALSO:

Company Results: Air NZ Rides The Tourism Boom With Record Full-Year Earnings

Air New Zealand has ridden the tourism boom and staved off increased competition to deliver the best full-year earnings in its 76-year history. More>>

ALSO:

New PGP: Sheep Milk Industry Gets $12.6M Crown Funding

The Sheep - Horizon Three programme aims to develop "a market driven, end-to-end value chain generating annual revenues of between $200 million and $700 million by 2030," according to a joint statement. More>>

ALSO:

Half Full: Fonterra Raises Forecast Milk Price

Fonterra Co-operative Group Limited today increased its 2016/17 forecast Farmgate Milk Price by 50 cents to $4.75 per kgMS. When combined with the forecast earnings per share range for the 2017 financial year of 50 to 60 cents, the total payout available to farmers in the current season is forecast to be $5.25 to $5.35 before retentions. More>>

ALSO:

Keep Digging: Seabed Ironsands Miner TransTasman Tries Again

The first company to attempt to gain a resource consent to mine ironsands from the ocean floor in New Zealand's Exclusive Economic Zone has lodged a new application containing fresh scientific and other evidence it hopes will persuade regulators after their initial application was turned down in 2014. More>>

Wool Pulled: Duvets Sold As ‘Premium Alpaca’ Mostly Sheep’s Wool

Rotorua business Budge Collection Limited (Budge) and sole director, Sun Dong Kim, were convicted and fined a total of $71,250 in Auckland District Court after each pleading guilty to four charges of misrepresenting how much alpaca fibre was in their duvets. More>>

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news