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Afterpay Touch Group Provides an Update in Relation to Key Business Developments

18 Jan 2019  |  10:00:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Business Developments

Afterpay Touch Group provided an update in relation to key business developments. The underlying sales in 1H FY 2019 was over $2.2bn, up from $918m in 1H FY 2018 (up 240%), with December 2018. The US business processed $260m of underlying sales in 1H FY 2019, with annualised underlying sales in excess of $500m based on 1H performance. Over 23,000 merchants have transacted with the Company globally in the last 12 months. It was created to provide customers with a better alternative to traditional credit products. It is a free service if customers pay on time and Company's business and operating model is designed to champion the customer and promote responsible customer spending.

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