Business
PayPoint plc: Preliminary results
PayPoint plc: Preliminary results.
About this update from Paypoint Plc
[{"type":"text","content":"\n PayPoint plc: Preliminary resultsPayPoint plc Preliminary resultsYear ended 31 March 2019FINANCIAL HIGHLIGHTSYear ended 31 March20192018ChangeRevenue£211.6m£213.5m(0.9)%Net revenue1£116.6m£119.6m(2.5)%Operating margin246.3%44.7%1.6pptsProfit before tax excluding exceptional items£53.8m£52.9m1.6%Profit before tax£54.7m£52.9m3.3%Diluted earnings per share64.8p62.7p3.3%Cash generation3£62.8m£67.9m(7.5)%Ordinary dividend paid per share46.2p45.3p1.9%Additional dividend paid per share36.7p36.7p-Net corporate cash4£3.5m£18.5m(81.3)%Cash and cash equivalents£37.5m£46.0m(18.6)%Strategy execution·Embed PayPoint at the heart of convenience retailo The PayPoint One platform was live in 12,881 sites at 31 March 2019, ahead of the original target of 12,400 sites. 13,248 sites are live today5. This means that over 74%6 of PayPoint’s independent retailers are now using the new platform. o Service fee revenue increased by £2.6 million (33.6%) to £10.3 million.o Card payment rebate revenue increased 5.5% to £7.9 million.·Become the definitive parcel point solutiono Four new parcel partnerships secured; five now signed-up.o Collect+’s Trust Pilot rating of 9.2 reconfirms Collect+’s strong consumer proposition.·Sustain leadership in ‘pay-as-you’ go and grow digital bill paymentso UK bill payments and top-ups net revenue per transaction grew by 4.7%. o 21 new clients launched including Monzo Bank and Anglian Water.o MultiPay’s net revenue increased by 48.3%.o Romania’s net revenue grew by 16.8% and 27 new clients were added. 1,500 of Payzone’s highest transacting retailers have chosen to migrate to the PayPoint platform and card payments was rolled out to 1,300 sites.·Innovate for future growth and profitso Developed and launched a pilot for card payments net settlement which allows the offset of bill payments cash due from retailers against funds due to retailers for card payments. o Ready to commence with the initial trial of the LINK Over-The-Counter service.o MultiPay’s direct debit payment capability developed to unlock further penetration of the energy sector and other verticals.Organisation and service deliveryImproved Pay...