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PayPoint (PAY)

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Paypoint profits expected to rise as new retail platform boosts Q1 sales

24 Jul 19

LONDON (ShareCast) - (Sharecast News) - Payment services firm Paypoint said it expected full-year profits to increase after its new retail platform boosted revenues during its the first quarter.
Paypoint saw revenues rise 3.6% in the three months ended 30 June to 28.7m, driven by a 30.7% increase in service fees to 2.1m on the back of a solid performance by its Paypoint One platform.

Since the start of the trading year, Paypoint has rolled out the technology to a further 752 more sites, taking its total to 13,633 sites at the end of June and putting it well and truly on track to reach its year-end target of 15,800 sites.

Card payment transactions increased 17.6% to 32.2m and UK bill payment net revenues grew 7.5%.

ATM net revenues fell 8.4% to 3m as a result of a 10% reduction in interchange fees from cash machine network LINK and a 3% reduction in transactions to 10.4m.

However, Paypoint noted that it had secured a "significant" new ATM client and said it would start rolling out its technology to 159 ATMs across its leisure centres in the second quarter.

Looking forward, chief executive Patrick Headon said: "The board remains confident that there will be a progression in profit before tax and exceptional items for the year ending 31 March 2020."

As of 0835 BST, Paypoint shares had dipped 0.22% to 902p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.


Market Data

Currency UK Pounds
Price 922.00p
Change Today -1.00p
52 Week High 1,118.00p
52 Week Low 748.00p
Volume 10,255
Shares Issued 68.36m
Market Cap 630.25m


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Ex-Div 05-Sep-19 05-Sep-19
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Amount 9.20p 11.80p