StockMarketWire.com - PayPoint's revenue fell by 4.1% to £97.6 million in the six months to 30 September, following the sales of PayByPhone and Drop and Collect.

The number of transactions processed slipped from 337.2 million to 295.2 million, with transaction value down from £4.9 billion to £4.7 billion.

The previous six month figures include the results of the mobile payments business PayByPhone, which was sold on 23 December 2016, and Drop and Collect before the company's renegotiation with Yodel, which completed on 16 December.

The ongoing retail networks business grew revenue by 2.3% to £97.6 million, but pre-tax profit fell by 3% to £24.4 million as a result of higher costs associated with its investment in PayPoint One, MultiPay and improving customer service.

The company said progress is being made in reshaping the business towards future growth opportunities in retail services.

The company has declared an interim ordinary dividend of 15.3p per share, an increase of 2% year-on-year, alongside the additional interim dividend of 12.2 pence per share, resulting in an incremental payment of £18.7 million to shareholders.




Story provided by StockMarketWire.com