31st Jul 2019 14:36
(Alliance News) - St James House PLC said Wednesday its focus for the previous two months has been the integration of Another Ops Ltd and the roll-out of a prepaid card programme in the UK.
St James House said all the initial 5,000 prepaid payment cards have been ordered in advance of release to customers.
Shares in the lottery and e-commerce operator were 27% higher in London at 41.25 pence each.
The card programme is for an initial 100,000 prepaid cards, with 5,000 cards due immediately. It is expected that 25,000 cards will be activated within two months of launch and all 100,000 within the first nine months. Each card is expected to produce revenue to St James House of between GBP3 and GBP5 per month.
In a statement, St James House said: "The board anticipates further significant new contracts of both prepaid cards and merchant services to be concluded during the next quarter."
The company added: "Progress continues within both the Lottery and Payment divisions of the group."
St James House said the company's Lottery business is on track to deliver a "positive operating contribution" by the second half of 2020.
"The number of lines played has increased every month for the last 8 months and are up around 35% since July 2018," the company explained.
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