Paypoint Share News (PAY)

Electronic payment services provider PayPoint says that transactions have grown faster than expected. The statement covers the period from 27 September to 26 December 2010. Bill and general payment transactions in the UK `were more than 6% higher that the same period of the previous year. The number of bill payments in the same period in Romania doubled. Internet transactions increased by more than 40%. Mobile top-up volumes continue to decline. Net revenues for the period were £22m and profitability is in line with expectations. Net cash was £16m at the end of December 2010, although that includes client cash of £8m.