SmartPay narrows FY loss to $5.9 mln

SmartPay, in midst of restructuring, narrows annual loss to $5.9 mln

May 30 (BusinessDesk) – SmartPay, the eftpos terminal company, narrowed its annual loss to $5.9 million and said it hasn’t yet recorded the full benefits of its restructuring and acquisitions.

The net loss narrowed from a year-earlier loss that was restated to $12.7 million. Sales climbed to $17 million from a restated $16.5 million.

In December, the company agreed to buy eftpos terminal provider Viaduct for $16.3 million in cash and shares.

The shares were up 1.2 percent to 17 cents. The results were released after the close of trading.

(BusinessDesk)

© Scoop Media