PayPoint expects to meet first quarter expectations

22nd Jul 2015 09:52

(ShareCast News) - Shares in PayPoint said first quarter results were in line with expectations but analysts at Numis described the update as disappointing.The payment systems firm said transactions were up 6% from 183.9, to 201.6 m, and net revenues were up 1% to £29m last year.PayPoint said UK and Irish bill and general transactions were in line with last year, while retail services transactions were up 24% on the year before.Numis maintained a 'hold' rating on the stock and target price of 895p, said the result was slightly disappointing.While PayPoint had attributed flat UK billing /general transactions to low energy consumption, Numis said it suspected recent agent commission charges also had a part to play.Analysts at Numis said management have has failed to reach the same success on investments in contrast with the original business.At 0906 BST shares in the company were up 0.17% to 1,016.70.