Smartpay profit falls 9.5% as foray into Aussie cab market costs it major contract

Fri, 29 May 2015

By Paul McBeth May 29 (BusinessDesk) - Smartpay Holdings, the listed payment terminal supplier, reported a 9.5 percent drop in annual profit after its decision to sell directly to Australia's taxi industry cost it a major wholesale contract. Net profit fell to $1.6 million, or 0.91 cents per share, in the 12 months ended March 31, from $1.7 million, or 1.01 cents, a year earlier, the Auckland-based company said in a statement. Sales slipped 3 percent to $22.2 million, while earnings before interest, tax, depreciation and amortisation decl...

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