StockMarketWire.com - Consumer payment services provider PayPoint plc said its bill and general payment transactions in the UK were up by over 6% on last year in the final quarter, ahead of management expectations.

PayPoint said the cold weather in the UK had boosted its prepaid gas and electricity transaction volumes.

In an update covering the period from September 27 to December 26, PayPoint said net revenues rose 7% to £22m, as a result of growth in bill payment, retail services and the acquisition of PayByPhone.

Earnings before tax and interest were in line with market expectations, taking seasonality of trading into account.

Net cash at the period end was £16m, compared with £13m at September 26.

The number of bill payments in Romania doubled to 3.3m. However, a continuing decline in mobile top-ups had pushed back profitability into the next financial year.

Mobile top-up volumes in the UK, Romania and Ireland continued to be lower than last year, as a result of mobile operators offering consumers more airtime for lower prices.

Retail services continued to show encouraging growth with transaction volumes increasing by 29% on last year.

Internet transactions rose by more than 40% to 17m from 12m. The group expected to process transactions this financial year for three new large gaming merchants, Unibet, Sportingbet, and Stan James.

Shares were down 1.25p at 353.25p at 8.30.









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