Transaction volumes and revenues to August are 26% and 30% respectively ahead of the same period last year. As expected, relatively higher growth in lower margin transactions (Ireland and epos) has resulted in net revenue growth of over 20% (net revenue is revenue less agent commission and the cost of Irish mobile top-ups). Operating margins are running at a similar level as the same period last year.
Terminal growth in the UK is ahead of plan and should exceed the target of 17,000 by the end of the current financial year. ATM growth continues more slowly, running at a net increase of just over 35 new sites per month as good quality sites become more difficult to find. The ATM target remains 2,000.
Energy prepayment volumes have continued to grow, benefiting from increased gas and electricity prices, although there has also been a marked increase in the average value paid by the consumer for each transaction.
The migration of mobile top-ups from PayPoint terminals to the retailer’s epos system for the one remaining large multiple retailer remains incomplete and is progressing with completion expected in the second half of the current financial year.
ATM transactions have grown substantially, with the average number of transactions per month increasing over the same period last year, divided between cash withdrawals and balance enquiries, with the latter increasing more sharply.
Enquiries:
PayPoint plc 01707 600 300
Dominic Taylor, Chief Executive
George Earle, Finance Director
Finsbury 020 7251 3801
Rollo Head
Don Hunter
About PayPoint
PayPoint is a leading branded payment collection network used, primarily, for the cash payment of bills and services and prepayments for mobile telephones and energy meters. There are over 15,000 retail outlets using PayPoint’s payment terminals.
Its clients include most of the UK and Ireland’s major energy, cable, mobile and fixed line telephony companies. Its blue chip client list also extends to numerous water companies, local authorities, housing associations, credit unions and a growing transport and travel base.
