PayPoint plc (PAY) Q2 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to our interim results presentation. We've set out here our familiar agenda for this morning. Rob and I look forward to taking you through the key highlights of our first half ahead of answering any questions. Overall, I think we've delivered a really resilient first half performance with strong underlying performances from parcels, from our card processing business and from open banking, and a return to growth for both our Christmas savings and also love to shop. I think for us, the results and our prospects as we look forward say a lot to the transformation of the business over the last three to four years, particularly against an economy and its headwinds and our legacy energy sector where we saw net revenues down 20% in the first half. As a business following that position, we appreciate the clearly more seasonally weighted to the second half Rob will talk about that more later. I'm really pleased to say we've started the second half well. Energy volumes are better and the momentum across the business is really strong. This certainly gives us confidence in delivering further progress this year and trading in line with our expectations and those of the market. This is clearly a very busy slide which sets out our first half financial performance. The key call-outs here are underlying. Net revenue growth is up 4.7%. Our underlying EVDA growth is 9.9%. And then across the individual business divisions, shopping net revenue growth is up 4.2%, with growth in all of our product service estates. Really, another outstanding performance from our e-commerce business with further estate growth. supporting net revenue growth of nearly 72% and parcel transaction growth of 82%. In payments and banking, we saw a 2.3% decline in net revenue, which I think reflects a robus...