PayPoint adds retailers and boosts profits in latest figures

By David Harris in Industry News 24th November 2022

Payment services provider PayPoint increased its income from continuing operations to by 6% to £59.5m in the six months to 30 September, the company said this morning.

Pre-tax profit for continuing operations also increased slightly, to £22.5m and PayPoint said it would be paying a higher dividend of 18.4p per share, up slightly from the 18p final dividend declared in May.

The company’s chief executive, Nick Wiles, said: “In shopping, we have made further progress in improving engagement with our retailer partners and key trade associations as we enhance our proposition, with the further rollout of a number of key initiatives, including Counter Cash, FMCG campaigns, a strengthened card proposition and a strong performance in Business Finance via YouLend.”

PayPoint’s UK retail network increased to 28,395 sites on 30 September, up from 28,254 at the end of March.

Two thirds of those retailers are independents.