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QuickFee (ASX: $QFE) announces positive TTV momentum in 04 FY24

  • Author: Stock Piper

QuickFee (ASX: $QFE) Trading Update highlights


QuickFee Limited (ASX: $QFE) has released a Trading Update for the months of April and May 2024, showing positive Total Transaction Volume (TTV) momentum across its US and Australian operations. The company reported a 21% increase in US Finance (Pay Over Time) TTV and a 29% increase in US Pay Now (ACH & Card) TTV compared to the prior corresponding period. In addition, the Australian business demonstrated a 16% increase in AU Finance (Pay Over Time) TTV. QuickFee also successfully completed a share placement of AS3.75 million and announced a share purchase plan (SPP) to raise up to A$0.5 million.

Executive Commentary on 04 FY24 Trading Update


The positive momentum in the US business continued in 04 FY24, with significant growth in both US Finance and US Pay Now TTV. The company's focus on high-margin Finance product in the US market is part of our clear growth strategy to unlock transformational growth in the years ahead. The successful completion of the share placement and the ongoing SPP demonstrate strong support from investors, providing QuickFee with the necessary capital to further fuel our growth and support the positive momentum in the business.

Summary of QuickFee's Trading Update and Future Plans


QuickFee's Trading Update for 04 FY24 reflects the company's sustained positive momentum in both the US and Australian markets. The increase in Total Transaction Volume (TTV) across its finance products indicates growing demand and adoption of QuickFee's services. The successful completion of the share placement and the introduction of the share purchase plan (SPP) demonstrate investor confidence in QuickFee's growth strategy. The company aims to use the raised capital to support further loan book growth in both markets and continue its focus on high-margin Finance products. QuickFee's commitment to expanding its brand awareness and winning new business through industry events and the launch of an optimized US website further underlines its dedication to growth and innovation.

QUICKFEE LIMITED
QFE | ASX | Financials
0.0670.001(+1.52%)
At close 05/07 (AEDT)
Market cap
$21.9M
Volume
50,830
DY Yield
0
PE Ratio
0
52 Week Range
0.047 - 0.1
1YR Return
N / A

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