Tyro Payments provided a trading update for 1HFY23 and improved guidance for FY23

Tyro Payments Limited (ASX: TYR) announced a trading update for 1HFY23 and improved guidance for FY23:

• During 1HFY23, the company has recorded a 37% increase in payments transaction value on the previous corresponding period to AU$21.7 billion and a 36% increase in payments normalised gross profit.
• The company’s banking business grew strongly, with loan originations increased by 101% to AU$72.7 million and banking gross profit surged by 73%.
• For FY23, Tyro Payments expects its transaction value to be in the range of AU$42.5 billion to AU$43.5 billion compared to the previous guidance of AU$40.0 billion to AU$42.0 billion.
• Its EBITDA is expected to be in the range of AU$37 million to AU$41 million and gross profit is expected to be between AU$187 million to AU$191 million.

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