PayPoint bucks the slowdown, reports 7% growth in revenues

Online payments provider PayPoint plc reported total revenues of 257 million euros in 2008, up 7% from a year earlier, following 10% increase in transaction volumes, and 38-mln euro operating profit, up 20% from 2007.

As for PayPoint’s operations in Romania, the online and cash payments provider reported 14 major clients in its portfolio. At end of 2008-2009 fiscal year, PayPoint Romania had 5,702 collection points across the country, 42%up from prior year, 2,000 of which being PayPoint branded.

“Revenues, margins, profits and dividends have risen, while our last-year projections on our UK-based network have been topped. In Romania, our network continued its growth trend, with special focus on cash bill payment services launched in August 2008 under PayPoint brand, for which we already signed contracts with 14 major clients”, said the chairman of PayPoint plc, David Newlands.

PayPoint is UK’s largest cash and online payments provider, with operations in Ireland and Romania. The company is handling 540 million transactions worth over 9 billion pounds (10 billion euros) for 6,000 clients – retailers and customers.

In September 2004, PayPoint plc had its debut at London Stock Exchange under PAY:LSE symbol. On March 29, 2009, the company’s capitalization stood at 254 million pounds (291.45 million euros).

In Romania, PayPoint’s client base include: E.ON Gaz Romania, E.ON Furnizare Moldova, Allianz Tiriac, Enel Energie, Romtelecom, UPC Romania, Zapp Mobile and GDF Suez Energy Romania.

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