Accounting software company Xero has posted a sharp rise in revenue for the full year, boosted by strong subscriber growth in the UK.

Operating revenue soared 36 per cent to 552.8m New Zealand dollars (£267.9m) in the year to the end of March.

Subscriber numbers increased 31 per cent to 1.81m.

Net loss after tax widened by nine per cent to 27.1m New Zealand dollars.

Cash flow was 6.4m New Zealand dollars, compared to a negative cash flow of £28.5m last year.

The New Zealand-based software company has posted strong revenue growth for the full year, boosted by a sharp rise in subscribers.

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