StockMarketWire.com - Payments company Network International said its first-half profit almost halved after rising revenue was offset by one-off expenses related to staff remuneration and listing charges.

Pre-tax profit for the six months through June fell to $18.9m, down from $38.6m.

Revenue rose 12% to $152.3m, underlying Ebitda rose 14% to $76.4m and underlying net income rose 5.1% to $43.8m.

Network International, which listed on the London Stock Exchange in April, said its bottom-line was impacted by 'higher specially-disclosed items primarily relating to costs associated with listing including share-based compensation charge'.

Chief executive Simon Haslam said the company had delivered a 'strong' first-half performance.

'Over the last six months, we have successfully extended contracts with some of our largest customers, deployed exciting new products at scale and strengthened our sales and innovation pipeline.'

'Looking ahead to the rest of the year, we are well positioned to deliver on the guidance shared at the time of listing and anticipate delivering low double-digit constant currency organic revenue growth while maintaining stable underlying EBITDA margin.'

'We expect our performance to accelerate to low-to-mid-teen organic constant currency revenue growth along with further moderate operating leverage over the medium-to-long term, with a number of growth accelerators being pursued that are expected to provide incremental upside in due course.'











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