24th Jul 2023 09:34
(Alliance News) - PayPoint PLC on Monday said it will issu its delayed annual results on Friday this week, while also confirming previous guidance for the recent year.
The Welwyn Garden City, Hertfordshire-based payment services provider earlier this month had delayed issuing the results due to accounting work related to the balance sheet of Appreciate Group.
Appreciate is a Merseyside-based multi-retailer redemption product provider. PayPoint earlier this year agreed to buy Appreciate in a deal worth GBP83 million.
PayPoint also on Friday will provide a trading update for the first quarter of the current financial year.
PayPoint on Monday confirmed again that net revenue, excluding Appreciate, is expected to be around GBP125 million, up from GBP115.1 million in financial 2022. It said it has seen "accelerated" revenue growth across all three business divisions.
PayPoint expects pretax profit for financial 2023 to be at the top end of the range of market expectations, excluding exceptional items and the impact of Appreciate, without citing what it considers these to be. In financial 2022, pretax profit was GBP78.5 million.
PayPoint shares were up 1.5% to 454.10 pence on Monday morning in London.
By Tom Waite, Alliance News editor
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