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Trading statements

PayPoint revenue up 4.2%

26 July 2017 08:11

PayPoint (PAY), which offers a bill paying system in the UK and Romania, grew organic net revenue by 4.2% to £28.4 million in the three months to 30 June.

This was despite a 4.5% reduction in transaction volumes to 150.3 million, as a result of a decline in UK prepay energy volume.

UK retail services net revenue grew by 10.5%, driven by PayPoint One, card payment transactions and ATM transactions.

Romania net revenue grew by 16.1% at constant currency.

UK parcel volumes grew by 16.6% to 6.1 million.

Net revenue in bill and general decreased by 2.7% as transaction volume declined by 11.2%, driven mainly by a 15.1% reduction in prepay energy volume.

Dominic Taylor, PayPoint's chief executive, said: "The successful roll out of our innovative new PayPoint One terminal in the UK continues, following its launch last September. We are on target to achieve 8,000 installations by the end of this financial year, with 5,000 terminals already in service. This good progress underpins the board's confidence in our strategy and our full year outlook remains in line with previous guidance."

At 8:11am: (LON:PAY) PayPoint PLC share price was +12p at 872p

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