Stargroup books 7th record quarter from ATM’s

Disruptive Perth based ATM machine operator Stargroup has booked its seventh straight record quarter from its Australia wide ATM machine network.

Quarterly revenues hit $600 000 for the first time during the September quarter, a six fold increase on the June 2014 quarter revenue figure of just $100 000 and a 12% increase on the previous quarter.

The company has also announced that revenues are set to double again next quarter following on from the impending acquisition of Cash Plus, an unlisted ATM machine network with machines in most Australian states.

Stargroup CEO and Chairman Todd Zani says that a comparison against Canadian listed ATM machine goliath DC Payments, the largest operator in Australia, shows that Stargroup’s average transactions per machine outstrips that of DC Payments.

Stargroup managed 613 transactions per machine per month for the quarter compared with DC Payment’s last reported average transactions of just 511 per ATM machine per month.

Mr Zani said “Our continued focus on only installing ATMs in quality sites has resulted in continued organic growth in the network size and revenue.”

And Zani says that after the 109 machine Cash Plus acquisition has completed, the company average transactions will jump to an industry leading 680 transactions per machine per month, largely due to the quality of the Cash Plus sites

Revenues post the acquisition will jump from around $2m per annum to $4.5m and the combined entity will boast an ATM network of over 230 machines operating in all Australian states producing over 1.8m transactions per year.