18th Mar 2020 10:10
(Alliance News) - Network International Holdings PLC on Wednesday said right now it cannot assess how measures put in place by the government of Jordan will affect its trading and performance there.
The payment solutions firm, focused in the Middle East and Africa, noted Jordan's announcement of measures such as suspending working hours for public and private sector employees, excluding vital roles. As operator of the local payment switch in Jordan, this suspension will have an effect on Network International, it said.
The Jordanian government has also suspended mass transportation and is preventing gatherings of more than ten people, as well as asking people to self-isolate except in the case of serious or urgent Covid-19 infection.
Jordan is Network International's second largest market and contributed 9% of company revenue in 2019. The UAE is its largest, at 60% of revenue.
"Network International is not able to currently assess the extent to which these measures will impact its trading and financial performance in Jordan. The company will continue to closely monitor the situation and provide further updates when appropriate," said Network International.
Shares in Network International were down 1.9% at 356.00 pence in London on Wednesday morning.
By Anna Farley; [email protected]
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