PayPoint full year pre-tax profit up 31%

Source: PayPoint

PayPoint plc preliminary results for year ended 25 March 2007.

  • Strong growth in both revenues and operating profit ahead 31% driven by 29% increase in transactions
  • Operating margin, increased by 2 percentage points to 44%
  • Earnings per share of 27.7p, up 11% notwithstanding an increase in the effective tax rate from 17% to 30% as prior year losses are fully utilized
  • Total dividends for year 13.7p per share, up 30%
  • Terminal network expanded by 15% to 17,537
  • Bill and general payments transaction growth enhanced by exclusive BBC TV Licensing contract
  • Entry into rapidly growing internet payment service market through acquisitions of Metacharge and SECPay
  • International expansion through acquisition of Pay Store SRL in Romania since the year end
  • Brand continuing to gain traction with prompted consumer awareness over 70%

David Newlands, Chairman of PayPoint, said "PayPoint continues to deliver strong increases in both revenues and profits, and has opportunities for further growth through market share gains and new initiatives. The Metacharge and SECPay acquisitions during the year are a positive step in generating transactions in new sectors and increasing the range of consumer payments processed by PayPoint. Since the year end we have also announced the acquisition of Pay Store SRL, the leading independent Romanian mobile top-up provider as the first step of our international strategy. Overall we look ahead with confidence for continuing growth supported by an encouraging performance at the start of the new financial year."

The financial statements have been drawn up to the year ended 25 March 2007 (the last Sunday in the month). The year ending 30 March 2008 will contain 53 weeks.

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