Business
Results for the year ended 31 March 2023
Results for the year ended 31 March 2023.
About this update from Paypoint Plc
[{"type":"text","content":"\n\n \n \n\n Results for the year ended 31 March 2023\n\nPayPoint PlcResults for the year ended 31 March 2023 A strong year across the PayPoint Group establishing a materially enhanced platform for future growth and reporting profit before tax at the top end of range of market expectations FINANCIAL HIGHLIGHTS Net revenue1 from continuing operations of £128.9 million (FY22: £115.1 million) increased by £13.8 million (11.9%)Underlying EBITDA2 of £61.3 million (FY22: £58.2 million) increased by £3.1 million (5.2%)Underlying profit before tax (profit before tax excluding adjusting items)3 of £50.8 million (FY22: £48.0 million) increased by £2.8 million (5.8%)Strong underlying cash generation from continuing operations excluding exceptional items4 of £62.3 million (FY22: £53.9 million)Net corporate debt5 of £72.4 million (FY22: £43.9 million) increased by £28.5 million, after cash of £61.9 million used in Appreciate Group acquisition.Increased ordinary final dividend of 18.6 pence per share declared, consistent with our progressive dividend policy, and representing an increase of 3.3% vs the final dividend declared on 26 May 2022 of 18.0 pence per shareAuthority in place, and to be renewed at AGM on 7 September 2023, for any future share buyback programme Year ended 31 March 2023FY23FY22 ChangeRevenue from continuing operations£167.7m£145.1m15.6%Net revenue from continuing operations1£128.9m£115.1m11.9%Underlying EBITDA2£61.3m£58.2m5.2% Underlying profit before tax (profit before tax excluding adjusting items)3 – PayPoint segment£50.3m£48.0m4.8%Underlying profit before tax (profit before tax excluding adjusting items)3 – Love2shop segment£0.5m--Underlying profit before tax (profit before tax excluding adjusting items)3£50.8m£48.0m5.8%Adjusting items6£(8.2)m£0.5mn/mProfit before tax from discontinued operation including exceptional item-£30.0mn/mProfit before tax£42.6m£78.5m(45.8)% Diluted earnings per share from continuing operations excluding adjusting items60.3p55.4p8.8%Ordinary paid dividend per share34.6p33.6p3.0%Ordinary reported dividend per share37.0p35.0p5.7%Cash generation from continuing operations excluding exceptional items4£62.3m£53.9m15.6%Net corporate debt5£(72.4)m£(43.9)m65.0% Nick Wiles, Chief Executive of PayPoint Plc, said: “This has been anothe...