Xero shares extend decline, as investors digest FY, US CFO departure

Tue, 28 Apr 2015

By Suze Metherell April 28 (BusinessDesk) - Shares of Xero have dropped to the lowest level since the cloud-based accounting software firm announced its $147.2 million capital raising in February, as investors digest its full year result and the sudden departure of another US-based executive. On Friday, the Wellington-based company said its annual loss widened to $69.5 million, in the year ended March 31, from $35.5 million a year earlier, as its increased spending on product development, sales and marketing for future growth, offset a r...

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