Payzone announces the Company's first preliminary results for the year ended 30 September 2008.
KEY POINTS
- Revenues of €1,081 million
- EBITDA (before special items) €41.6million
- Basic and diluted loss per share of € 67c
- €48.3 million raised by the issue of new equity and convertible preference shares
- New banking arrangements in place
- Disposal of French, Italian and Spanish businesses agreed
- Synergies achieved through the consolidation of UK and German operations
Payzone CEO, Mike Maloney, said: "Payzone has now found its feet, after what was a difficult period following the bringing together of the alphyra and Cardpoint businesses. The Company has successfully consolidated its operations in the UK and Germany and we have rectified the operational inefficiencies in our UK ATM business.
"The economic conditions are challenging and we anticipate that this will remain the case throughout the current financial period, limiting our visibility. However, I believe that our strategic focus of developing the markets we see as core to our growth, and exiting those that are not, will position us well for the future."
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