Monthly global growth had a slower month (down from 2.4% in April to 1.8% in May). This is partially attributable to Ramdan in Malaysia and Indo, although Australia growth slowed to 0.7% for the month (this will happen as competitors join the space and market matures).
Bear in mind that Australia had a hike in fees a couple of months back so the fact that Active Customers are still rising regardless of that shows how sticky the customer base is. And cashflow will be flowing nicely from that price hike.
Southeast Asia
Both Malaysia and Indonesia saw monthly increases in sign ups and investment accounts with the later seeing the monthly active customer growth rate almost double from 2.2% to 4.2%. Considering both countries are seeing a spike in C-19 and half the month was impacted by Ramadan this is further endorsement that the company's growth strategy is being well executed.
George: "We remain ahead of budget to reach the $1 billion milestone in calendar 2021"
Although I've got no fixation on this target as it doesn't really mean anything, I like to know the detail behind the numbers..... and this month they still look pretty good to me.
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