Australian fintech Beforepay hits over 7-week high on strong quarter, low costs

Beforepay

30/10/2023 01:10

** Shares of fintech firm Beforepay Group  B4P.AX  rise as
much as 10.34% to A$0.480, their highest level since Sept. 7
    ** B4P marks its best intraday pct jump since Oct. 5, gains
for a second straight day
    ** Co logs Q1 income of A$8.5 mln ($5.39 mln), up 32% from a
year earlier; net transaction margin jumps 74% to A$5.63 mln
    ** Adds customer acquisition cost of new users declines 62%
to A$27
    ** Total advances up 27% at A$177.3 mln
    ** B4P down 6.5% this year, as of last close

($1 = 1.5760 Australian dollars)

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))