Butn achieves record originations and revenue for FY23s last quarter

Butn Limited (ASX: BTN) has made available its quarterly activities report for the three months ended on June 30, 2023 (Q4 FY23), in conjunction with its Appendix 4C cash flow report. During this quarter, total originations amounted to AU$117.4 million, showing a 38% increase compared to the previous corresponding period (pcp). Notably, may witnessed a record origination month with AU$45 million.

The quarter also saw Butn achieve a record quarterly revenue of AU$3.3 million, representing a significant 91% rise from the pcp, with a revenue margin of 2.8% (compared to 2.0% in the pcp). Additionally, Butn's platform originations for the quarter surpassed AU$30 million, displaying an 85% growth from the pcp. These platform originations comprise more than 25% of the total monthly originations. As of now, Butn has a closing cash position of AU$14.6 million.

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