The Tyro Payments Ltd (ASX: TYR) share price is a top performer today, rallying 5.87% to $3.97.
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What's lifting the Tyro share price on Monday?
Weekly COVID-19 trading update
Tyro has been providing weekly transaction value updates since March 2020. This measure was introduced to provide transparency as to the impact of COVID-19 on its EFTPOS machines business.
This week's update highlighted a 28% increase in date-on-date transaction values to 3 September of $219 million.
While September year-to-date figures were up 23% to $4.579 billion.
Tyro's transaction value has remained buoyant despite prolonged lockdowns taking place across Victoria and New South Wales.
Tyro joins the ASX 200
S&P Dow Jones Indices announced a rebalance on Friday 3 September. The rebalance will be effective before market open on 20 September.
The Tyro share price, in addition to Lifestyle Communities Limited (ASX: LIC), Pinnacle Investment Management Group Ltd (ASX: PNI) and SeaLink Travel Group Ltd (ASX: SLK), will be added to the S&P/ASX 200 Index (ASX: XJO).
While weak performers G8 Education Ltd (ASX: GEM), NRW Holdings Limited (ASX: NWH), Nuix Ltd (ASX: NXL) and Westgold Resources Ltd (ASX: WGX) will be removed from the index.
Tyro shares performing strongly post-FY21 results
The Tyro share price has rallied 10.5% since releasing its FY21 results on Thursday 26 August.
Despite terminal connectivity issues in January and rolling COVID-19 lockdowns across major cities, the company delivered a well-rounded result.
The payment solutions company delivered a 26% increase in transaction values to a record $25.5 billion and a 13% increase in revenue to $238.5 million.
The company's bottom line showed signs of improvement with earnings before interest, taxes, depreciation and amortisation (EBITDA) of $14.2 million compared to a $4.4 million loss in FY20. This is in addition to a normalised net loss before tax of $10.9 million, compared to a $25.9 million loss in FY20.
