Tyro Payments said it has already seen the first signs that consumer spending is softening, but will earn a bigger-than-expected profit as it waits for suitor Potentia Capital to lob a new takeover bid.
Tyro upgraded its earnings guidance for the year ending June 30 on Monday, saying it expects a gross profit between $192 million and $194 million, up from $187 million to $191 million issued previously.
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Ayesha de Kretser is a senior reporter with The Australian Financial Review covering the aviation and tourism sectors. She has previously reported on banking, mining and commodity markets. Connect with Ayesha on Twitter. Email Ayesha at ayesha.dekretser@afr.com.au
