With acquisitions and distribution deals seemingly landing on a regular basis, Stargroup Limited (ASX:STL; FSE:S33) looks to be forging its own impressive path in the ATM and cashless payments sectors.
With the completion of a $6.5 million acquisition of telecommunications and ATM reseller Indue due imminently, STL could not only significantly increase its number of ATMs and transactions, it could also increase the current annualised revenue from the ATM division from $7.5 million to $11.6 million.
That figure is expected to further increase via organic growth to at least $15 million next financial year, with STL boasting an impressive overall 521% increase in actual annual revenues, including a 299% increase in actual revenues in FY2017 compared to FY2016.
It’s not just the figures which are catching the eye of investors. STL also recently launched itself on the Frankfurt Stock Exchange under ticker code S33.
The listing should enable STL to access further capital to bolster its merger and acquisitions activity and maintain its upward trajectory.
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STL has now posted 12 consecutive months of record performance and will soon launch its world-first, one-of-a-kind ATM that will allow secure deposits as well as withdrawals in real-time.
With a key distribution agreement with Swedish listed company West International to distribute EFTPOS payment terminals across Australia and New Zealand – and a further cost-saving deal with Goldfields Money – STL looks likely to continue its record breaking revenue run.
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