Smartpay full-year profit slumps 86% after ending Australian taxi contract

Thu, 26 May 2016

By Edwin Mitson May 26 (BusinessDesk) - Smartpay Holdings posted an 86 percent slump in annual profit after the payment terminal supplier lost a large Australian taxi contract just before the start of the financial year. Net profit sank to $200,000 in the year ended March 31, from $1.6 million a year earlier, the Auckland-based company said in a statement. Revenue slid 8 percent to $20.4 million. Earnings before interest, taxation, depreciation and amortisation fell 12 percent to $8.1 million, within its forecast range of $8 million to $...

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