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Tyro (ASX:TYR) - CEO, Robbie Cooke - The Market Herald
CEO, Robbie Cooke
Source: Startup Daily
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  • Tyro Payments' (TYR) shares remain in a trading halt even though the company has released its latest COVID-19 related trading update
  • The fintech stock has been releasing its unaudited transaction values to provide transparency on the pandemic's impact on business
  • The latest figures show an 8 per cent increase in January, from $850 million in transaction values in FY20 to $920 million in FY21
  • Tyro recorded stronger growth in December, with transaction values rising by 19 per cent from $2.2 billion in FY20 to $2.62 billion in FY21
  • The company will continue releasing updates on its weekly transaction figures until the release of its full-year report
  • Shares in Tyro Payments dropped over 10 per cent last week due to a terminal connectivity issue
  • The company placed its shares in a trading halt as a result of the issue, with an update on the terminal problems expected today or tomorrow
  • The trading halt is due to expire on Tuesday, January 19, with shares last trading for $2.32 each

Tyro Payments' (TYR) has announced its latest transaction results while its shares remain in a trading halt.

The company's share price had been trading down over 10 per cent last week, as connectivity issues affected some EFTPOS terminals.

The fintech stock entered a trading halt following the issues on January 15, stating that the halt will be lifted once an update is available or by January 19.

In the meantime, Tyro has released its latest COVID-19 related trading update.

The company vowed to release a weekly update on its transaction value figures so shareholders could see the effect the pandemic was having on the business.

These latest figures show TYR recorded an 8 per cent increase in value in the year to January 15, with transactions up from $894 million to $920 million.

Year-to-date figures were slightly stronger, with the finance stock growing by 9 per cent from $11.91 billion in FY20 to $13.03 billion in FY21.

Additionally, Tyro recorded solid growth in December, with transaction values rising by 19 per cent from $2.2 billion in FY20 to $2.62 billion in FY21.

The company has stated it will continue releasing updates on its weekly transaction figures until the release of its full-year report later this year.

Before last week's trading halt came into effect, Tyro Payment shares were trading for $2.32 per share.

TYR by the numbers
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