Australia's QuickFee rises on quarterly update, strong outlook

Quickfee

17/10/2022 03:23

** Shares of Australia's QuickFee  QFE.AX  rise as much as
4.6% to A$0.07, set to gain the most since Oct. 11, if gains
hold
    ** The online payments and financing solutions provider
announces a business update for the quarter ended Sept. 30
 urn:newsml:reuters.com:*:nASX70hXGT
    ** Says U.S. Pay Now total transaction values (TTV) up 34%
to $242 million for the first quarter of FY23
    ** Says "strong" momentum continuing into FY23, with solid
performance across both Pay Now and Financing transaction
volumes
    ** Adds that co remains on track to achieve run-rate
profitability by the end of FY23 within existing cash and
borrowing facilities
    ** Co also announces that Barry Lewin will retire as
Chairman of the company's board and Dale Smorgon will take on
executive chair role
    ** Stock is down 60.6% this year, as of last close
 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))