OFX Group Reports Decline in Fiscal Q4 Net Operating Income; Shares Jump 5%

MT Newswires Live

04/23

OFX Group (ASX:OFX) reported fiscal fourth-quarter net operating income of AU$43.5 million, down from AU$49.3 million in the year-ago period, according to a Thursday filing with the Australian bourse.

The company's revenue was AU$26.2 million, down from AU$30.6 million, per the filing.

Chief Executive Skander Malcolm attributed the decline in net operating income to an unusually soft February, but added that the company is encouraged by positive momentum observed in March.

The company's shares were up nearly 5% in recent Thursday trade.

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