Stargroup looks to 300% ATM revenue increase

Perth based Stargroup’s aggressive acquisition strategy in its ATM machine division appears to be paying off with the company staring at a 319% year on year revenue increase this quarter.

The March quarter will be the first full quarter incorporating Stargroup’s latest ATM machine network acquisition via Cash Plus Australia.

The company expects to book revenues of $1.25m for the quarter which represents a 319% increase on the same quarter of last year.

It also represents about a 60% increase on revenues booked from last quarter of less than $800 000.

Stargroup also says it’s continued focus on the all important “transactions per machine” metric is continuing to pay dividends.

The company is on track to again outperform last quarter’s figure of 667 transactions per machine per month which Stargroup says is already the best in the industry.

Stargroup CEO and Executive Chairman Todd Zani said “Our focus is on the “transactions per machine metric as this is the best guide as to how well Stargroup is investing shareholders’ capital. We expect to achieve significant upside in late Q1 and more so in Q2 2016 following the recent launch of our Starpos business and the recycler ATM.”

“We are encouraged by the revenue growth to date which continues to improve month on month and when coupled with Stargroup’s recent ATM cost reduction measures bodes well for the performance of the ATM subsidiary.” Said Mr Zani

The company is now on track to deliver its 9^th record quarter in a row.