Highlights

In the traditional UK business, net revenue was up 2% and operating profit was up 8%

• UK and Ireland terminal network expanded by nearly 700 sites to 22,669.
• Processed over 1.8 million Romanian bill payment transactions with 2,260 branded PayPoint sites.
• Collect+, our joint venture, started trading during the period, and already has over 3,500 sites live.
• Consumer satisfaction5 97% (82% very satisfied).
• Profit before tax lower than prior period due to the investment in Collect+ and the much reduced interest on cash balances.

David Newlands, Chairman of PayPoint, said: “PayPoint has delivered first half operating profits ahead of market expectations, despite the economic downturn. New products and services, developments in technology, and new contracts have strengthened the traditional business. We are continuing to invest in parcels, internet payments and Romania and these will contribute to future growth. The outlook for the year is in line with market expectations.”

“We have again increased the dividend as there is ample capacity to do so without adversely affecting growth prospects.”

The condensed financial statements cover the 6 months from 30 March 2009 to 27 September 2009, the last Sunday in the month (2008: 6 months covering the period 31 March 2008 to 28 September 2008).

Click here to download the full Half yearly financial report for the 6 months ended 27 September 2009.