Paypoint reports six per cent rise in Q3 transactions

23rd Jan 2014 08:25

- Revenue up four per cent in Q3- Progress made with e&m commerce- Cash levels up over quarterOverall third-quarter transactions rose six per cent year-on-year to £206m at Paypoint, the payment transaction firm said Thursday. Revenue for the period climbed 4% to £57m year-on-year, while excluding the costs recharged to clients and merchants it climbed 8% to £31m, as a result of the growth in bill and general payments, retail services and PayByPhone.The company's new management has been focused on e&m commerce, which covers internet and PayByPhone. The group reported that internet transactions rose 4% to 25m, driven by new and existing merchants, while PayByPhone transactions were up 42% to 8.2m. Dominic Taylor, PayPoint's Chief Executive, said: "Overall trading for the period to December 31st was in line with market expectations, taking seasonality into account. Our retail businesses are continuing to generate satisfactory growth this year. "Bringing the e&m businesses under single management will provide the opportunity to unlock better growth, which should lead to improved returns on our invested capital in these businesses."Regionally, in the UK and Irish retail networks, bill and general payment transactions were 2% up on the same period last year, while retail services transactions were up 28% on last year. Top-ups were down 11%, hit by the reduction in the mobile prepaid sector, while retail sites at the year-end numbered 26,683, up 554 over six months.In Romania the group saw continued growth in profit, with a 64% increase in the number of bill payments processed to 10.8m, while mobile transaction numbers were 8% up.At the year-end net cash totalled £24.4m, up from £20.2m three months earlier. NR