In an interim report published today on the ASX, New Zealand-based Xero (ASX:EXO) says that Australian revenues have grown 124% for the six month period ending 30 September, compared to the same period a year ago.
Australian Managing Director, Chris Ridd, says that Xero is “moving quickly” on market share in the Australasian market, “with a major focus on growth supported by NZD$200m in the bank and no debt.”
“We have an excellent product and proven ability to innovate and operate. We recently published our features timeline which showed frequent big ticket releases over the years.
Xero now has Australian offices in Melbourne, Sydney, Canberra, Perth and Brisbane, and Ridd says staff numbers have “surged” to 100, with a dedicated development team working on tax, with launch expected in June next year in time for the Australian end of financial year.