Xero has $85 million of cash in first cashflow report

Wed, 30 Jan 2013

Jan. 31 (BusinessDesk) – Accounting software firm Xero had $85 million of cash at the end of 2012 after raising $60 million in a private placement in December. The figure is revealed in its first quarterly cashflow report, which is required by the ASX. Xero took up a secondary listing on ASX in November. The report shows net operating and investing cash outflows for the quarter of $6 million. Xero spent $6.48 million on staff costs in the quarter and $1.05 million on advertising and marketing. Its receipts from customers were $10.12 million...

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