WAG Payment Solutions revenues grow in Q4, chairman to step down

(Sharecast News) - Freight and road payments processing business WAG Payment Solutions reported improved Q4 revenues on Tuesday, driven by sustained growth in its core divisions, and revealed that chairman Paul Manduca will be stepping down from the role at the conclusion of its next AGM. WAG Payment Solutions said net revenues looked set to be roughly €76.4m in Q4, up from €72.8m a year earlier, while average active payment solutions customers grew 14% and active payment solutions trucks rose 8.6%.

The FTSE 250-listed firm also said payment and mobility solutions revenues rose to €44.1m and €32.3m, respectively.

WAG said it remains confident in its ability to meet FY24 expectations and also expects FY25 net revenue growth to be in the low double-digits and adjusted underlying margins to be sustained, reflecting a weaker macroeconomic outlook for Europe.

Separately, WAG announced that chairman Paul Manduca will step down on May 22 and will be replaced by Steve Dryden.

As of 0930 GMT, WAG shares were down 6.37% at 79.40p.

















Reporting by Iain Gilbert at Sharecast.com