March 13, 2020 / 1:52 AM / in 21 days

BRIEF-Zip Co Responds to Coronavirus Impact

March 13 (Reuters) - Zip Co Ltd:

* TO DATE ZIP HAS NOT OBSERVED ANY MATERIAL IMPACT FROM COVID-19 ACROSS ITS BUSINESS

* COMPANY GENERATED $30M IN REVENUE DURING JAN-FEB 2020 WHICH WAS 98% HIGHER THAN SAME PERIOD IN 2019

* DURING JAN-FEB 2020 CORE TRANSACTION VOLUME QUARTER-TO DATE OF $403M UP 85% YOY

* SEES STRONG DEMAND FOR ONLINE PURCHASES, BILL PAYMENTS, EVERYDAY SPEND AND HEALTH AMID CORONAVIRUS OUTBREAK

* REMAIN WELL INSIDE ALL COVENANTS; RECEIVABLES CONTINUE TO PERFORM IN LINE WITH MANAGEMENT EXPECTATIONS; NET BAD DEBTS OF 1.79% IN FEB-20

* REMOTE WORKING TO START FROM NEXT WEEK Source text for Eikon: Further company coverage:

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