29th Jan 2025 11:12
(Alliance News) - PayPoint PLC on Wednesday reported increased third-quarter revenue, driven by "strong" performances in its e-commerce and Love2shop divisions, and reiterated that it remains on track to meet expectations for the full-year.
The Welwyn Garden City, Hertfordshire-based store payment service provider said revenue for the three months ended December 31, rose to GBP53.0 million, up 1.9% from GBP52.0 million in the same period a year earlier.
The company attributed its growth to a "record" quarter for its E-commerce division, with revenue rising 32% in the third quarter to GBP4.1 million from GBP3.1 million a year ago.
PayPoint's Love2shop division reported a 1.3% revenue increase to GBP18.8 million, up from GBP18.5 million a year earlier, while revenue in the Shopping division declined by 2.0% to GBP16.1 million from GBP16.4 million.
PayPoint also declared an interim dividend of 19.4 pence per share, up 2.1% from 19.0 pence the prior year and in line with its dividend policy.
The company said it remains confident in achieving its target of GBP100 million in earnings before interest, tax, depreciation, and amortisation by the end of financial 2026.
Chief Executive Nick Wiles said: "Our business has continued to deliver further progress in the third quarter building on our strong first half year performance, despite a more challenging overall trading environment and a stalled recovery in consumer confidence.
"During the period, our seasonal businesses in particular have performed well and, for the business as a whole, the board remains confident in the delivery of further progress in the year and meeting expectations."
Shares in PayPoint were up 2.3% at 719.00 pence each in London late on Wednesday morning.
By Eva Castanedo, Alliance News reporter
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