Australia's Quickfee hits over 2-week high on strong July-Aug trading update

Quickfee

13/09/2022 04:19

** Shares of Quickfee Ltd  QFE.AX  rise as much as 5.7% to
A$0.074; highest level since Aug. 26 
    ** The online payments and financing solutions provider
announces a strong start to FY23 in PayNow and Financing for
July - Aug with US PayNow up 38% at $161 mln  urn:newsml:reuters.com:*:nASX6jF1WY
    ** Also announces discontinuation of Buy Now Pay Later
(BNPL) products in US, with focus shifting on co's core
professional services payments and lending business
    ** Says expected achievement of run-rate profitability by
end of FY23 within existing cash and borrowing facilities
remains unchanged   
    ** More 130,000 than shares change hands, compared with the
30-day average volume of about 121,000 shares
    ** Stock has fallen 57.6% this year as of last close
 

 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))