(Alliance News) - PayPoint PLC shares jumped on Monday, after it said it is considering a share buyback.
Shares in the Welwyn Garden City, Hertfordshire-based payment services provider were up 11% to 539.12 pence in London on Monday afternoon.
PayPoint said it remains on track to deliver around GBP80 million in underlying earnings before interest, tax, depreciation and amortisation for the current financial year ended March 31, up 31% from GBP61.3 million in financial 2023, and underlying pretax profit in line with undefined expectations.
"The strength of this performance, underpinned by sustained strong cash flow and our confidence in the delivery of continued growth and achieving our financial targets, has enabled the board to now have under active consideration a share buyback programme to further enhance shareholder returns," PayPoint said.
Details of the buyback will be announced on June 13.
By Sophie Rose, Alliance News senior reporter
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Paypoint (PAY)