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PayPoint PLC on Wednesday said it is underway to achieve its growth ambitions as it announced a jump in net revenue and adjusted earnings. The Welwyn Garden City, Hertfordshire-based payment services provider said in the three months to December 31, its third financial quarter, net revenue jumped 60% to £52.0 million from £32.5 million a year before. The company said trading in the week before Christmas was sound, noting that in the shopping category, it delivered ‘a record week for processed value in the EVO and LLoyds Cardnet estates’. PayPoint said it remains on track to deliver around £80 million in underlying earnings before interest, tax, depreciation and amortisation for the current financial year to March 31, up 31% from £61.3 million in financial 2023, and underlying pretax profit in line with undefined expectations. ‘Planning for [financial 2025] is well underway to achieve our growth ambitions and build on the strong progress across the business. As we continue towards delivering £100 million Ebitda by the end of FY26,’ said Chief Executive Nick Wiles. PayPoint shares rose 3.9% to 553.50 pence each on Wednesday morning in London. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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