Source: Sharecast
Despite a cautious consumer backdrop, PayPoint continued to expand its service footprint, secure new partnerships, and invest in operational efficiency during Q1.
Group net revenues rose 7.5% to £42.2m, driven by gains in e-commerce, payments and banking, and its Love2shop unit. Service fee net revenues climbed 7.8% to £5.7m, supported by growth in PayPoint One/Mini sites, which increased to 20,388 from 20,275 at the end of March. Shopping division revenues edged up 0.6% to £16.5m.
Against a backdrop of economic uncertainty, PayPoint reaffirmed its £100m underlying earnings target for FY26 and extended its share buyback programme, committing to return at least £30m annually from July 2025.
CEO Nick Wiles said: "The group has had an encouraging start to the current financial year. We remain confident in our operational plans, continued progress towards the delivery of our £100m EBITDA target in the current year and our longer-term growth targets for the next three years to the end of FY28."
As of 1250 BST, PayPoint shares were up 1.70% at 751.57p.
Reporting by Iain Gilbert at Sharecast.com