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26 May, 2022 - 15:15 By Tony Quested

Strategy brings massive pay day for PayPoint shareholders

PayPoint Plc, the bill-paying heavyweight based in Welwyn, reports rocketing revenue and profit figures for the year to March 31.

Net revenue from continuing operations was £18 million ahead to £115.1m, driven by a strong contribution from Handepay/Merchant Rentals and supported by the acquisitions of i-movo and RSM 2000. Revenue from continuing operations increased by £17.4 million to £145.1m and profit before tax increased by £50.5m to £78.5m – reflecting the exceptional profit of £29.9m from a significant disposal in Romania.

The board increased the final ordinary dividend by 8.4 per cent to 18p per share.

Chief executive Nick Wiles, said: “This has been another positive year for the PayPoint Group as we continue to build on transforming the business to deliver a significantly enhanced platform to drive strong shareholder returns. 

“We opened up further growth opportunities across the business and delivered a broader range of innovative services and technology connecting millions of consumers with an expanded base of over 60,000 retailer partners and SME locations across multiple sectors.

“We have registered a strong financial performance for the year against the backdrop of growing macroeconomic uncertainty, disruption in energy markets and an acceleration of cost pressures. In response, we have been relentlessly focused on operational excellence and the rapid delivery of our strategic priorities.

“We are confident the steps we have taken during the financial year have enhanced the business and better positioned us to deliver growth. As a result, despite some continued headwinds, we are confident of delivering further progress in the year ahead and meeting expectations as we take advantage of the accelerated growth opportunities across our key markets.”

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