Company Name: Star Payment Systems
Announcement Date: 08/11/2016
Announcement Category: Investment
Announcement Content:
Not all small-cap tech companies are made from the same cloth.
Whereas some tech ideas are about innovative apps and progressive use of digital tools for the masses, others are all about leveraging traditional bread-and-butter economics and commercializing the simple things that people do most often — like withdrawing or depositing cash.
To that end Stargroup Limited (ASX:STL) is forging an impressive path in the ATM and cashless payments spaces with an eye to acquisitions (the most recent is the potential acquisition of telecommunications and ATM reseller Indue), cost-saving deals with the likes of Goldfields Money and distribution deals with Swedish listed West International.
Given the success of its approach, STL boasted an impressive overall 521% increase in actual annual revenues, including a 299% increase in actual revenues in FY2017 compared to FY2016 and a 205% improvement in 2016 YTD revenues compared to the corresponding period in 2015. There is also a 30% increase in projected quarterly revenue on the back of organic growth.
To read the full article click on the URL of the media coverage regarding the most recent announcement by STL.
Announcement URL: http://www.nextsmallcap.com/asx-star-just-posted-299-annual-group-revenue-growth/
About Star Payment Systems:
Financial technology company Stargroup Limited is the only ASX listed company deploying ATM machines in Australia and importantly, the only listed ATM company having a direct ownership interest in the manufacturer of its ATM technologies, namely NeoICP, a South Korean private company.
Stargroup Limited became the exclusive distributor of the cashPod ATM range including the recycler ATM, back office and payment technologies in Australia for the next 5 years on 7 August 2015.
Stargroup Limited, via its wholly owned subsidiaries, StarPOS and StarApps, is also an EFTPOS and payWave technologies provider and developer of the source code in its terminals via its 5 year distribution agreement with West International AB, a Swedish NASDAQ listed company, to distribute next generation EFTPOS payment terminals and solutions in Australian and New Zealand.
Go to Company Profile for: Star Payment Systems
Announcement Contact: [email protected]
