PayPoint plc (PAY) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone, and welcome to our interim results presentation this morning. We're going to adopt our usual format, starting with me giving an overview of our performance in the first half. Rob's going to then cover the financials, followed by an update on the delivery of our key growth projects, and then a first-half business review. Rob's going to update on our progress in working with Niall on our long-term organisational framework. and then finally an update on our outlook and the Q&A. And with that, turning really to the first half and an overview of actually our first half. And I think despite an uncertain market background, the performance of our underlying businesses remained in line with our expectations. We've continued to grow our pay point core estate with new business in key areas such as housing, local authorities, government departments, FMC brand campaigns and in love to shop business. I think progress has been good. We've accelerated growth in our digital payments platform. We've taken further actions to strengthen our card processing platform and its capabilities and in parcels we've strengthened further our key carrier relationships, all of which is very much consistent with the long-term objectives we set out for the business earlier this year. In the first half, We have encountered two specific challenges which have impacted performance. Firstly, the financial terms of our new commercial contract with InPost Yodel have had a greater impact than we'd anticipated, and with the additional volumes we would expect to come through not yet materializing, and that's rather been compounded by what's now the well-publicized disruption to parcel volumes and service in our network. from the imposed Yodel internal network and operational harmonizatio...