PaySauce Interim Results Announcement
Wellington, New Zealand, 28 November 2019 - PaySauce has started the 2020 financial year with a strong six month result, showing continued growth in customer numbers and revenue. As well as financial growth, staff numbers have also grown. This is to help build out the team and strengthen senior leadership to enable PaySauce to execute future growth and strategic plans.
Chief Executive Asantha Wijeyeratne reflects on the period: “With our first anniversary as a listed company coming up, it’s amazing to see how far we’ve come both from a financial growth perspective, but also internally as a company, making several fantastic new hires and continuing to build on our people centric culture.
We’ve been hard at work on our product, improving and adding new features to the existing payroll engine, such as bulk employee importing, more third party integrations, and improvements to our onboard process - making it easier than ever for customers to sign-up for payroll.
Outside of the payroll product, we’ve also developed the Federated Farmers Contract Builder, and are in the final stages of development for the MBIE Contract Builder. Our new Payroll Giving feature is due to be released shortly too - which will allow employees to easily setup and donate directly from their pay to a registered charity, claiming their tax credit on the fly.”
SUMMARY OF FINANCIAL PERFORMANCE & METRICS
PaySauce Limited (NZX:PYS) (‘the Company’) is pleased to present its financial results for the six month interim period ended 30 September 2019. PaySauce Limited is the parent company of PaySauce Operations Limited, and Right Remuneration Limited (together forming ‘PaySauce’ or ‘the Group’).
|Financial Performance||Sept 2019||Sept 2018||Change||Change %|
|Net loss for the period||($862,028)||($2,514,651)||($1,652,623)||(66%)|
|Metrics||Sept 2019||Mar 2019||Change||Change %|
Mr Wijeyeratne, on PaySauce’s outlook for the year to come: “Development of our product and growth in the New Zealand market will continue to be our focus, however we’ve talked before about our interest in expanding into other markets.
Recently we were presented with a great opportunity to get some first-hand exposure to the opportunities in Ireland and the UK, as we joined Callaghan Innovation’s Ireland and UK Agritech Mission. Off the back of this, we’ve identified that Ireland and the UK present significant opportunities to employ our knowledge of farming employment and deliver marked improvements for the industry.
We look forward to sharing more with you on our future growth strategies as the year progresses.”