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Registry Direct expands client base after action-packed year for Australian markets

January 19, 2022

Registry Direct expands client base after action-packed year for Australian markets

Share registry fintech Registry Direct secured 48 new fee-paying clients in the final quarter of a particular busy calendar year for the Australian market.

Share registry fintech Registry Direct secured 48 new fee-paying clients in the final quarter of a particular busy calendar year for the Australian market.

These additional clients helped the business grow its customer receipts for the quarter to $286,000, marking a 60% improvement on the prior corresponding period.

The acquisitions through the quarter continue the business’s near constant growth since inception in 2013.

Source: Registry Direct, Quarterly Activities Report, 11th January 2022

Registry Direct additionally raised $1.4 million in new capital during the quarter through the issue of new shares at $0.027 each – a price 80% higher than the company’s previous placement, offered in the September quarter.

Commenting on the result, CEO Steuart Roe said: “We had another pleasing quarter with strong sales and revenue growth when compared with this time last year. With the capital raised, we aim to accelerate this growth, particularly over the second half of 2022.”

The company noted its ongoing system development work also continued through the quarter, including progressing its multi-factor authentication, CHESS replacement integration, several  product improvements, and bug fixes.

These latter fixes were based on a combination of customer feedback and Registry Direct’s own proactive error detection work.

Looking forward, the company remains optimistic it can unlock shareholder value through continued growth, noting that its own organic growth prospects remain healthy, and the business is exploring options for potential inorganic growth too.

Registry Direct’s new client acquisitions come at the tail-end of a busy year for the ASX, which saw more than 180 new businesses enter the bourse.

On average, these newly listed businesses finished the year 14% up.

It wasn’t just businesses flocking to the ASX throughout 2021, however – Money Magazine reports that roughly one million share trading accounts were opened throughout the year too as retail investors looked to try their hand at investing.

To stay up to date with Registry Direct news and announcements, please register your details on the Registry Direct investor portal.

Reach Corporate provides Corporate Advisory Services, including managing investor communications on behalf of Registry Direct and will receive fees for its services

Sources


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