23rd Jan 2014 09:37
LONDON (Alliance News) - PayPoint PLC Thursday said its third-quarter net revenues were up 8% to GBP31 million, with the company citing growth in bill and general payments, retail services and PayByPhone.
PayPoint, which makes money by getting customers to pay bills through its services, as well as challenging banks for retail customers, said it processed 206 million transactions in the three months to December 31, compared with 193 million for the corresponding period last year.
The FTSE 250 company's net revenue compares to a 4% rise in third-quarter total revenue to GBP57 million. The difference between the two is made up of costs PayPoint incurs because of mobile top-ups, SIM cards and items such as retail agent commission.
PayPoint, which is trying to grow its internet and PayByPhone business, said internet transactions increased to 25 million, up 4% over last year, driven by new and existing merchants. PayByPhone continued its development and transactions processed in the period were 8.2 million, up 42% on last year.
"Overall trading for the period to December 31 was in line with market expectations, taking seasonality into account. Our retail businesses are continuing to generate satisfactory growth this year. Bringing the e&m businesses under single management will provide the opportunity to unlock better growth, which should lead to improved returns on our invested capital in these businesses," Dominic Taylor, chief executive, said in a statement.
PayPoint shares were Thursday quoted at 1,131.40 pence, up 11.40 pence, or 1.0%.
By Samuel Agini; [email protected]; @samuelagini
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