Tyro Payments (ASX:TYR) Shares Surge 15.3% Following Strong FY24 Results

2 min read | August 26, 2024 01:02 PM AEST | By Team Kalkine Media

Google News:

Tyro Payments (ASX:TYR) Shares Surge 15.3% Following Strong FY24 Results — Image source: Shutterstock

Recent News

Santos (ASX:STO) After the Takeover Collapse: Bargain or Value Trap?

Why Pro Medicus (ASX:PME) Is Leading the Growth Stock Conversation

Is 360 (ASX:360) Amid ASX 200 Revealing Growth’s New Reality?

Why 360 (ASX:360) ASX 200 Is Facing a New Growth Test

Make Kalkine Media
My Trusted Source

Tyro Payments (ASX:TYR) has witnessed a substantial rise in its share price on Monday, climbing as much as 15.3% to AU$1.130. This marks the highest level for the stock since March 14. The surge follows the company’s impressive financial results for FY24, which have bolstered investor confidence.

Impressive Financial Performance

For the fiscal year ended 30 June 2024, Tyro Payments reported a remarkable four-fold increase in its statutory net profit after tax, reaching AU$25.7 million (approximately $17.46 million). This significant profit growth underscores the company's successful performance and robust financial health.

Revenue and Gross Profit Forecasts

The company also experienced an 8.2% increase in revenue from ordinary activities. Looking ahead to FY25, Tyro Payments has projected a gross profit of between AU$218 million and AU$226 million. This forecast is notably higher than the AU$210.8 million gross profit recorded in FY24, indicating strong growth potential.

Increased Trading Volume

Trading activity in Tyro Payments shares has seen a notable spike, with approximately 6.5 million shares changing hands. This volume is substantially higher compared to the 30-day average trading volume of 1.7 million shares, reflecting heightened investor interest.

Year-to-Date Performance

Despite the recent gains, Tyro Payments’ stock is still down 11.3% year-to-date as of the last close. The recent surge in share price may help mitigate some of the year-to-date losses and improve investor sentiment.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.