- Online foreign exchange and international payment facilitator OFX saw EBITDA and net operating income up 8.1 and 8 per cent respectively during the 2019 financial year
- The company detailed its strong focus on geographic expansion, better client experience and growing partnerships going forward
- OFX’s share price is up 7.46 per cent at today’s market close, sitting at $1.44 apiece
Online foreign exchange and international payment facilitator OFX released its net operating income is up 8 per cent.
Additionally, earnings before interest, tax, depreciation and amortisation (EBITDA) are up almost the same, at 8.1 per cent for the 2019 financial year.
Net operating income came in at $118.7 million and EBITDA totalled 32.2 million.
CEO and Managing Director of OFX Skander Malcolm said the
“the financial year 2019 was a good one for OFX. We doubled our revenue growth rate, whilst delivering positive annual operating leverage on an EBITDA basis”.
Skander explained improvements to customers online experience, through upgrades to the app, website and customer service delivery, were contributing factors to the financial year success.
North America and Asia saw the biggest jumps in revenue growth, increasing 19.8 per cent and 19.3 per cent respectively.
Revenue growth in Australia saw an increase of 5.1 per cent.
OFX’s Chairman Steven Sargent detailed the company has three specific areas growth to target. As follows: geographic expansion, better client experience and growing partnerships.
OFX’s share price is up 7.46 per cent at today’s market close, sitting at $1.44 apiece.