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Afterpay Touch Group Announces Updated Version of Business Developments

18 Jan 2019  |  15:24:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Business Developments - Updated Version

Afterpay Touch Group announced that its Business Developments contained a typographical error on page 1. The Announcement correctly stated that underlying sales in 1H FY19 was over $2.2bn, up from $918m in 1H FY18. This represents an increase of 140%, not 240%. The Company updated that continued scale benefits and investment in risk management capabilities and processes has enabled them to reduce gross losses while also reducing late fees. As reported, the Company's in-store represents 16% of total ANZ underlying sales, growing more than four-fold on the prior corresponding period.

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