PAYPOINT PLC: INTERIM MANAGEMENT STATEMENT
(Thomson Reuters ONE) -
PAYPOINT PLC: INTERIM MANAGEMENT STATEMENT
26 January 2012
The board reports on events, transactions and trading since the half year
results for the six months ended on 25 September 2011.
Dominic Taylor, PayPoint's Chief Executive, said:
"Overall trading for the period to 25 December was in line with market
expectations, taking seasonality of trading into account, with group net
revenues up 8% over the same period last year."
Performance(1) for the third quarter period ended 25 December 2011(2)
Overall transactions processed for the period were 183 million, up 13% compared
to 162 million for the same period last year. Revenues of £52.6 million were up
3% and net revenues(3) were up 8% to £24.3 million on the same period last year.
Established businesses
UK and Irish bill and general payment transactions were 13% up on last year.
Retail services transactions from ATMs, debit / credit cards, parcels and mobile
phone SIM cards were up 23% on last year. Top-ups increased as a consequence of
transactions for the recently launched Health Lottery, offset by the continued
decline in prepaid mobile top-ups. UK and Irish retail sites (including virtual
terminals, the software version of the terminal on retailers' till systems) at
25 December numbered 24,391, up 229 since the half year end.
Internet transactions increased 22% to 21 million over the same quarter last
year, largely from existing merchants. Revenue growth has yet to benefit from
the new products which will increase the approval rates for consumer internet
payments and provide better transaction reporting to clients. These should be
delivered early in the new financial year.
Developing businesses
In Romania, we have processed 5 million bill payments in the period, up 53% on
last year. Money transfer with Western Union has been launched as our first
retail service. We have increased our terminal estate since the half year end to
6,600. Encouragingly, our Romanian business has made a small profit in the
quarter.
PayByPhone transactions processed in the period were 4.4 million, up 22% on last
year. Parking authority delays in tendering, contracting and implementation have
restricted revenue growth, however implementations in San Francisco and three
London boroughs commenced in the period.
Collect+ volumes have more than trebled to 1.2 million transactions in the
period compared to 0.4 million in the same period last year, with a peak week of
125,000 transactions at Christmas. Collect+ deliveries are now available on
eBay. We have increased the number of sites offering Collect+ since the half
year end to 4,600.
Balance sheet
The group has maintained a strong balance sheet. Net cash at 25 December was
£21.3 million (excluding client cash of £3.0 million), compared to £18.5 million
(excluding client cash of £3.0 million) at 25 September 2011.
1. PayPoint's auditors have not been requested to review the performance or
financial position.
2. Comparative data is given for the similar 13 week period last year (i.e. 26
September to 26 December 2010).
3. Net revenue is revenue less the cost of mobile top-ups and SIM cards where
PayPoint is principal and costs incurred by PayPoint which are recharged to
clients and merchants. These costs include retail agent commission, merchant
service charges levied by card scheme sponsors and costs for the provision
of call centres for PayByPhone clients.
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Source: Paypoint plc via Thomson Reuters ONE
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Unternehmensinformation / Kurzprofil:
Datum: 26.01.2012 - 08:00 Uhr
Sprache: Deutsch
News-ID 107973
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contact information:
Town:
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Kategorie:
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