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

 

Wood Producers: Crisis In New Zealand Log Supply

New Zealand wood processing leaders held a hui with senior government officials and political leaders in Whangarei yesterday to assess the acute log supply shortage to local mills in Northland. More>>

Consents And Taxes: Trustpower 'Very Disappointed' With Judgement

Trustpower is "very disappointed" with a Supreme Court ruling dismissing its bid to claim tax deductions on $17.7 million of project costs in a case closely watched by large-scale infrastructure developers. More>>

ALSO:

Fruitful Endeavours: Kiwifruit Exports Reach Record Levels

In June 2016, kiwifruit exports rose $105 million (47 percent) from June 2015 to reach $331 million, Statistics New Zealand said today. Overall, goods exports rose $109 million (2.6 percent) in June 2016 (to $4.3 billion). More>>

ALSO:

Economic Update: RBNZ Says Rate Cut Seems Likely

The Reserve Bank will likely cut interest rates further as a persistently strong kiwi dollar makes it difficult for the bank to meet its inflation target, it said. The local currency fell. More>>

ALSO:

House Price Action Plan: RBNZ Signals National Lending Restrictions

The central bank wants to cap bank lending to property investors with a deposit of less than 40 percent at 5 percent and restore the 10 percent limit for owner-occupiers wanting to take out a mortgage with a deposit of less than 20 percent, according to a consultation paper released today. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news