Xero annual loss more than doubles to $35 million as staff numbers jump

Thu, 03 Apr 2014

April 4 (BusinessDesk) – Xero, the cloud-based accounting software company, widened its full-year loss after it doubled staff numbers to drive overseas sales. New Zealand's second-largest listed company lost about $35 million in the year ended March 31, more than double last year's $14.4 million loss, the Wellington-based company said in a statement citing unaudited figures. The company increased staff numbers to 758 from 382 over the year, it said. Shares in Xero have soared 229 percent over the past year, making it the best-performing stoc...

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