As an example, if you given out 1 million gift cards, and they each have a $10 balance, then EML needs to maintain a $10 million float of funds. The current balance is pretty massive.
The balance goes down when people spend from their cards, and it goes up as soon as a new gift card is issued. The stored float is just the aggregate balance of all the funds on the gift cards issued.
The gift card holders don't gain interest on their money obviously, but EML can invest the funds to earn an income.
Additionally, over time, gift cards also expire and any remaining balance left on the cards goes back to EML.
Ann: FY23 Results Investor Presentation, page-46
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Last
$1.03 |
Change
0.015(1.48%) |
Mkt cap ! $386.1M | |||
| Open | High | Low | Value | Volume |
| $1.02 | $1.04 | $1.02 | $658.4K | 641.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 6000 | $1.03 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.03 | 9111 | 2 |
View Market Depth
| Last trade - 16.10pm 10/05/2024 (20 minute delay) ? |
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Last
$1.03 |
Change
0.015 ( 1.04 %) |
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| Open | High | Low | Volume | ||
| $1.03 | $1.03 | $1.02 | 53822 | ||
| Last updated 15.59pm 10/05/2024 ? | |||||
| EML (ASX) Chart |