Ann: Half Yearly Report and Accounts, page-70

Hi @Dineen

I think you may have misinterpreted me. I posted that in 'Couple new jobs' on 16 April 2019. Just trying to show that GPTV growth is playing out well and as I had expected.

My reference to $1 was not a SP target either at that time when I posted it or now. Moreso a suggestion that if the GPTV growth played out as I expected it to, then we would be seeing $1 sooner rather than later - well thats happened!

As for targets, hard to say but at this stage my base expectation for the SP by the end of this year is $1.80 and relies on my EBIT runrate expectations for Q4 this year annialised. There is upside to that and that will require further information over the coming months.

In particular as MC just mentioned, people need to pay particular attention to the number of merchant approvals and application pipeline. The rapid uptake in merchants over the last few months is well above my expectations. The growth in that area and the confirmation today that the MSS is in production to me says that rapid onboarding of these new merchants and potentially much larger merchants is now possible and likely to start happening (consistent with growth this year being backended to Q4.)

Its what next year and beyond can bring that should be in focus for people now. EBIT of $40mil+ next year should be the starting point.

The goal posts will keep moving over coming months but in a positive way.