No recommendation
No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.
(Sharecast News) - PayPoint reported first-quarter group net revenue of 39.5m on Wednesday, down 6.4% year-on-year, as declines in Network Services, Merchant Services and Love2shop offset growth in Digital Payments and Open Banking.
Network Services revenue fell 6.5% to 21.6m, Merchant Services declined 6.1% to 7.7m and Love2shop dropped 9.8% to 7.0m, while Digital Payments and Open Banking increased 4.1% to 3.2m.
The London-listed group said trading was in line with expectations and reiterated that it remained on track to meet market forecasts for the year, with performance expected to be weighted towards the second half.
"Our underlying business performance for the quarter was consistent with our expectations and, against a strong prior year comparator, has established a solid platform for the year ahead," said chief executive Nick Wiles.
PayPoint also said its business reorganisation was largely complete and that it expected total FY27 shareholder returns through buybacks to reach 30m.
At 1154 BST, shares in Paypoint were down 4.23% at 599.5p.
Reporting by Josh White for Sharecast.com.
See latest RNS on Investegate
The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.