The full announcement is available here
HIGHLIGHTS
6 months ended 30 September 2015
6 months ended 30 September 2014
Increase/
(decrease)
Revenue
£102.8m
£104.3m
(1.4%)
Net revenue1
£59.3m
£57.9m
2.4%
Gross margin
49.6%
48.0%
1.6ppts
Operating profit before goodwill impairment2
£21.3m
£22.4m
(5.0%)
Adjusted earnings per share3
24.8p
26.0p
(4.6%)
Interim dividend per share
14.2p
12.4p
14.5%
Cash at period end (comparative 31 March 2015)
£46.1m
£43.9m
4.9%
Good progress in our strategic priorities
Financial results
Operations
Dominic Taylor, Chief Executive of PayPoint, said:
“In the first half of the year, I am pleased to report further progress in the delivery of the strategy we outlined last year. We have leveraged our unique business model to secure the best client offering and drive growth in our retail services through innovation in new products and technology. We continued to seek new international opportunities. Overall the results are in line with our expectations for the first half, with the performance from retail networks offset by losses in Mobile and Online Payments, which we expect to sell in the second half of this financial year as announced in May this year. Offers on the Online Payments business have not met expectations and accordingly, we have impaired the entire goodwill on this business. Looking ahead to the second half, we expect to conclude current Collect+ joint venture discussions with our partner Yodel and complete the sale of our Mobile and Online businesses. Overall, we expect to make further progress across the business, with trading since 30 September in line with our expectations. Our dividend increase anticipates double digit growth in the dividend for the year as a whole and reflects our confidence in the business and its long term prospects.”
Enquiries
PayPoint plc Steve O'Neill Group Marketing Director
+44(0)1707 600 440 [email protected]
PayPoint Press Office Finsbury +44(0)207 251 3801 [email protected]
A presentation for analysts is being held at 11.45am today (26 November 2015) at Finsbury Group, Tenter House, 45 Moorfields London EC2Y 9AE
Net revenue is revenue less the cost of mobile top-ups (where PayPoint is principal), SIM cards and other costs incurred by PayPoint, which are recharged to clients and merchants.These other costs include retail agent commission, card payment merchant service charges and costs for the provision of call centres for PayByPhone clients.
Operating profit before goodwill impairment includes our share of joint venture results.
Adjusted earnings per share are stated before the £18.2m impairment of goodwill in the Online Payment business.
Net revenue, operating profit before goodwill impairment and adjusted earnings per share are measures the directors believe will assist with a better understanding of the underlying performance of the group.
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