Paypoint posts jump in revenues to £29.9m in first quarter
PayPoint boss Nick Wiles said the firm was building on “strong momentum” today as the payments firm reported a jump in revenues to £29.9m for the first quarter.
Revenues were up 6.2 per cent on last year in the 13 weeks to the end of June, in line with expectations, as sales across the firm’s three divisions rose.
Shopping divisional net revenue increased by 8 per cent to £15.3, payments and banking were up 1.8 per cent on last year’s figures at £13.1m, and e-commerce – the firm’s s mallest division – jumped 33.8 per cent to £1.4m.
Wiles said it had been a bumper quarter for the firm.
“Whilst early in our financial year, we have continued to build on the strong momentum across the Group and remain confident in delivering further progress in the current year,” he said in a statement today.
“Our focus remains on the delivery of our strategic priorities and a strong operational performance, while maintaining a tight control of our cost base.”
Shares in the firm jumped above 605p this morning after opening at 595p.