Xero posts small net profit as customers pass 2 million

Thu, 07 Nov 2019

Xero posted a small net profit as its cash flow turned positive and subscriber numbers rose 30 percent to more than two million in the six months ended September.The accounting software company reported a $1.3 million net profit for the six months compared with a net loss of $28.6 million in the same six months last year.Operating profit before interest, tax, depreciation and amortisation nearly doubled to $65.9 million, from $34.5 million, while free cash inflow rose to $4.8 million from a net outflow of $9.8 million in the previous first half...

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