Recent trends mostly favourable for Xero: Citi

Recent trends mostly favourable for Xero: Citi
Xero is market leader in Britain but lags QuickBooks in the US
Jenny Ruth
Trends in the December quarter in business insolvencies, the formation of new businesses and downloads of accounting software were largely positive for Xero in its major markets of Australia, New Zealand and Britain, according to analysis by Citi.Citi analyst Siraj Ahmed, who has a “buy” recommendation on the stock and has disclosed he holds a long position in Xero shares, said he expects the company will deliver strong earnings growth, underpinned by ongoing penetration of existing markets and by sales of add-on products and third-...

More Markets

Volatile stocks drive NZ sharemarket down nearly 0.5%
Markets Market Close

Volatile stocks drive NZ sharemarket down nearly 0.5%

The S&P/NZX 50 Index closed at 12.844.59, declining 60.45 points or 0.47%.

Graham Skellern 05 Feb 2025
Lyttelton Port result improves but CEO says it's not enough
Infrastructure

Lyttelton Port result improves but CEO says it's not enough

The CEO says Lyttelton Port does not generate sufficient returns on its capital base. 

Rebecca Howard 05 Feb 2025
Sky CFO Ciara McGuigan resigns in surprise departure
Markets

Sky CFO Ciara McGuigan resigns in surprise departure

Embattled broadcaster Sky TV is losing its chief financial officer with immediate effect.The pay-TV operator, facing a barrage of customer anger over poor satellite reception in recent weeks, announced the resignation of Ciara McGuigan on Wednesday.Her departure, effective immedi...

Staff reporters 05 Feb 2025
Ex-contractors reveal Harvey Norman business model pressures
Retail Exclusive

Ex-contractors reveal Harvey Norman business model pressures

The promise of big money can require extreme flexibility from ‘proprietors’.

Gregor Thompson 05 Feb 2025