StockMarketWire.com - PayPoint has reported a 4.2% rise in the group's underlying net revenue to £32.7 million for the three months ended December 31, 2019.

The Group's latest trading update also announced strong growth in its service fee to £3.5 million, driven by the roll out of PayPoint One to more than 16,000 sites.

UK parcel volumes increased by 12.6% to 7.6 million, reflecting a solid performance over the peak period and the benefit of new parcel partnerships, while UK bill payments net revenue increased by 2.2%, driven by strong growth in MultiPay and improvement in net revenue per transaction offsetting a 1.1% decline in transactions.

Nick Wiles, PayPoint's Executive Chairman, said: "Overall our results for the quarter reflect resilience in our bill payments business, growth in our parcels activities during the important peak parcels period and continued progress in the rollout of PayPoint One and our retail services activities. Romania has performed well with a steady increase in transactions and good control of costs."


At 8:44am: [LON:PAY] PayPoint PLC share price was -72p at 972p



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