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BRIEF-Zip Co Achieves Full Year Revenue Of $161.2 Mln

Published 15/07/2020, 10:34 am
© Reuters.
ZIP
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July 15 (Reuters) - Zip Co Ltd Z1P.AX :

* ACHIEVED FULL YEAR FY20 REVENUE OF $161.2M

* AT JUNE-END, CUSTOMERS INCREASED TO 2.1 MILLION, UP 63% YOY

* AT JUNE-END, MERCHANTS ON PLATFORM INCREASED TO 24.5K, UP 51% YOY.

* NET BAD DEBTS OF 2.24% AT END OF Q4, IN LINE WITH EXPECTATIONS

* FY20 ANNUALISED TRANSACTION VOLUME $2.3BN VERSUS TARGET $2.2BN

* MATERIAL CHANGE TO NUMBER OF REQUESTS FOR HARDSHIP ASSISTANCE; CURRENTLY LESS THAN 0.08% OF RECEIVABLES SUBJECT TO CLAIMS

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