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Xero has just released its annual report to the NZX. In the chairman’s and CEO’s report the highlight;

• Over 200 customers in the UK as at 10 May
• 2008/2009 focus will be on sales and marketing and business partnerships in UK
• Focus on an Australian entry 2008/2009
• Features soon to come include
  • Job costing
  • Time recording
  • Multi-currency

The second page of the report had this impressive looking chart - of course it’s more impressive without actual numbers and it’ll be good to see things head even further north in the months to come.

The report also includes banded remuneration levels. In line with its creation as the antithesis of a bootstrapped organisation, the salary bands are in keeping with an established business.

There are some big numbers there but nothing one wouldn’t expect from a company attempting to build a global business. As every previous analysis has pointed out - paying a CEO $250k is no problem at all so long as he delivers the goods. No doubt any shareholders that wish to do so will attend the AGM on the 24th of July in Wellington.

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