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ATMs now a dividend producer at Stargroup

The Stargroup, ATM and payments outfit that will soon take control of Indue's ATM entity said its revenue will more than triple to greater than A$10 million in 2017.It projected a net profit for the year to June 2017 of $6.7 million following a loss of $570,000 in 2016.Stargroup projected EBITDA at $9.12 million for the year up from $102,000 in 2016.A reset on operating costs, said to be greater than 50 per cent, will underpin confidence in a maiden dividend, paid from a profit working out at $1.53 per share, which may be distributed as soon as the first half result.Stargroup disclosed that Goldfields Money, also ASX listed, had signed on as financier of its cash float.It will buy Indue's ATM processing business for $6.5 million, with settlement due soon.

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