Xero says on target with accelerated cash burn as it takes on workers

Fri, 01 Aug 2014

The company doubled staff numbers to 758 in the 12 months ended March 31 and has continued to hire workers as it attempts to scale up to a profitable size. The company told shareholders at their annual meeting last month that it is considering a listing in the US after it reaches annual revenues of US$100 million, expected in this financial year, and has tapped former Microsoft chief financial officer Chris Liddell as chairman. said Darryl Robinson, Xero's general manager group finance. " The shares fell 2.5 percent to $24.77 and...

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