- Buy now, pay later player, Laybuy Group Holdings (LBY) has recorded record results for the first quarter of FY22
- The fintech company has seen continued growth in all regions but the UK has been the standout
- Overall Laybuy recorded a gross merchandise value (GMV) to a record of NZ$184 million (A$172 million)
- The UK GMV more than doubled last year, reaching £49 million (A$90 million), up 107 per cent
- On the market, Laybuy was up 0.91 per cent and is trading at 55.5 cents per share at 12:30 pm AEST
Laybuy Group Holdings (LBY) is off to a great start to the 2022 financial year, with record results for the first quarter.
The buy now, pay later company has seen continued growth in all regions, however the UK has been the standout.
Overall, Laybuy recorded a gross merchandise value (GMV) to a record of NZ$184 million (A$172 million) or annualised GMV of NZ$738 million (A$691), up 58 per cent compared to this time last year.
The UK GMV more than doubled last year, reaching £49 million (A$90 million), up 107 per cent.
Active customers were up 356,000 year on year, reaching over 829,000, with the UK active customers up 143 per cent.
Active merchants are up 4800 reaching over 10,000, but once again UK was a stand out with merchants up 424 per cent on last year.
Over the first quarter, 743 UK merchants signed, including Sports Bike Shop, The Fragrance Shop, Stichd, Oasis Stores and Warehouse Fashion.
In Australia and New Zealand, over the same time period, 1126 merchants signed with LBY, including JD Sports, Adore Beauty, Boardriders, City Beach, Stateside Sport and Colette.
Managing Director Gary Rohloff is pleased with the results for the new financial year, particularly in the UK.
“Our growth strategy is delivering, with record GMV in the first quarter of FY22 surpassing the traditional peak quarter of December 2020,” Mr Rohloff said.
“Since June 2020, we are delighted to have added over 4,800 active merchants and more than 356,000 new active customers, which is driving strong growth across all regions, particularly in the UK market.”
On the market, Laybuy was up 0.91 per cent and was trading at 55.5 cents per share at 12:30 pm AEST.