Paypoint chair ups stake after average results

1st Feb 2016 16:04

(ShareCast News) - Paypoint's chairman is putting more skin in the game, after picking up another £80,000 in shares in his company.The FTSE 250 group revealed on Monday that Nick Wiles purchased 10,000 shares for 797p.It takes his total shareholding to 35,000 shares - a stake of 0.05%.It followed news from Paypoint last week that its third quarter revenues have dipped due to a decline in top ups and the unseasonably warm weather.While revenue excluding the cost of mobile top ups, SIM cards and other costs which are recharged to clients rose 1.8% to £35m, total revenues dropped 3% to £58.1m.Paypoint said it saw 22.7% growth in retail services and 9.6% growth in Mobile and Online, however they were offset by a 13.7% decline in top ups and a 2.4% drop in bill and general revenues, with the latter mainly due to lower energy consumption.The company also said the adverse VAT ruling from HMRC previously reported as well as the unseasonably warm weather has slowed the improvement in its results.Shares in Paypoint were flat on Monday at 1612 GMT at 790p.Top Director BuysPayPoint (PAY) Director name: Mr Nick Wiles Amount purchased: 10,000 @ 797.00p Value: £79,7007Digital Group (7DIG) Director name: Mr Paul McGowanAmount purchased: 250,000 @ 13.25p Value: £33,125Top Director SellsLearning Technologies Group (LTG) Director name: Mr Jonathan SatchellAmount sold: 1,750,000 @ 33.00p Value: £577,500Porvair (PRV) Director name: Mr Ben StocksAmount sold: 131,600 @ 287.82p Value: £378,771Porvair (PRV) Director name: Mr Christopher TylerAmount sold: 86,600 @ 287.82p Value: £249,252