Home > Latest News > Xero Shares Take Major Hit AsAannual Loss Doubles To $68mil.

Xero Shares Take Major Hit AsAannual Loss Doubles To $68mil.

Xero Shares Take Major Hit AsAannual Loss Doubles To $68mil.

Full year results released by the dual-listed stock to the twin exchanges on Friday morning showed annual losses for the year ended March 31 widened to NZ$69.5 million (A$67.9 million), double the NZ$35.5 million loss reported in the previous year.

Xero’s Australian MD Chris Ridd defended the company’s record, saying the result reflected the company’s hefty push into international markets, particularly the USA. He said Xero management expects the 2016 financial year to show an improvement on 2015 – though he didn’t predict a profit.