Float hopeful Cuscal reveals revenue and cost growth ahead of roadshow
As investor meetings for a planned November IPO kick off next week, Cuscal’s annual report provides a snapshot of the payment company’s growth and challenges. Cuscal, the payment infrastructure business largely used by smaller banks, has reported a net profit of $26.1 million for the year ending June 30, up 12 per cent on the previous full year. The company will launch a roadshow next week in New Zealand, with meetings being held in Auckland and Wellington, followed by Sydney and Melbourne. Adjusted EBITDA of $45.6 million was up 27 per cent, while return on equity of 8.8 per cent was up on the 7.4 per cent reported in the previous year. Cuscal paid total dividends in 2023 of 7.5¢ per share, representing a full-year payout ratio of 50 per cent.
Yayınlanan : 2 yıl önce ile James Eyers içinde Auto
Cuscal, the payment infrastructure business largely used by smaller banks, has lifted its operating income by almost one-third over the past 12 months, but says costs are also rising due to more staff and technology expenses.
The company will next week brief institutional investors on its planned ASX listing, a float which could kickstart what has otherwise been a dormant market. Cuscal wants to raise around $300 million and list by late November with a market capitalisation of around $500 million.
The roadshow will launch on Monday next week in New Zealand, with meetings being arranged in Auckland and Wellington, followed by Sydney and Melbourne. The international roadshow begins on October 23 where senior management, led by Cuscal managing director Craig Kennedy, will meet prospective investors in London, Singapore and Hong Kong.
In filings with the corporate regulator, Cuscal reported a net profit of $26.1 million for the year ending June 30, up 12 per cent on the previous full year.
Adjusted EBITDA of $45.6 million was up 27 per cent, while return on equity of 8.8 per cent was up on the 7.4 per cent reported in the previous year. The accounts also show Cuscal paid total dividends in 2023 of 7.5¢ per share, worth $13.1 million, representing a full-year payout ratio of 50 per cent.