April 3, 2014 / 8:22 PM / 3 years ago

NZ's Xero says operating revenue leaps 83 pct

WELLINGTON, April 4 (Reuters) - New Zealand accounting software developer Xero on Friday said its full-year operating revenue jumped 83 percent on increasing subscriptions, but it expected to post another net loss as it invests in global expansion.

The company, which is expanding aggressively in the United States, said operating revenues came in at NZ$70.1 million ($59.87 million) for the year ended March 31, from NZ$38.4 million a year ago.

Xero said it expected to post a net loss after tax of around NZ$35 million for the year, compared with NZ$14.4 million a year ago. It added it expected strong growth would continue for the foreseeable future. ($1 = 1.1708 New Zealand Dollars) (Reporting by Naomi Tajitsu; Editing by Mark Trevelyan)

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