3 Oct 2012

Xero launches Android 'app'

7:40 am on 3 October 2012

Online accountancy firm Xero is launching its software application for Android devices to give its business users more accessibility to their accounts.

The listed company has had a similar app for the iPhone for the past year and and hopes the wider accessibility will boost business.

Xero expects to double its operating revenue to more than $16.7 million for the six months to September, compared with $7.9 million for the same period last year.

Customer numbers have more than doubled to 111,800 in the year to September, compared with 51,300 last year.

But the company still expects to report a loss for the period as it spends more to expand its operations.

Xero chief executive Rod Drury says the company is looking at taking on more staff and needs to continue to spend on research and development to capture the market.

He says Xero has also launched its online invoicing features and is changing the face of online accounting.

Mr Drury says Xero is proceeding with its application to list on the Australian stock exchange and expects to be dually listed in early November.