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Company Update

Tue, 21st Jun 2016 07:00

RNS Number : 7493B
Boxhill Technologies PLC
21 June 2016

21 June 2016


("Boxhill", the "Group" or the "Company")

Company Update

The board of directors of Boxhill (the "Board") is pleased to report first quarter sales are in line with expectations, reaching £571,000 coupled with a gross profit of £427,000 (both unaudited).

Lord Razzall, executive chairman stated, "The strong first quarter performance is encouraging and comes at a time when the company is completing significant improvements to our payment services. Along with the roll out of FreepayMaster, the payments division has agreed a partnership with Clickatell, the South African based industry leading SMS messaging service provider, which will allow customers to utilise certain features of the FreepayMaster payment platform via text messaging, particularly for access and payment authorisation.

Further, working with New York based CFP International, FreepayMaster has invested in servers on the SWIFT network giving access to the leading global supplier of secure financial messaging. This means that FreepayMaster will have its own SWIFT/BIC code thus improving the service and performance of payment platform for individuals and businesses. The underlying business continues to perform and we are looking forward to developing further new services focused on making it easier for people and businesses to pay for goods and services and send money on demand where they want to, when they want to.

In the lottery division, Prize Provision Services Ltd ("PPSL") continue to modernise their lottery systems to offer clients an improving service. Additionally, PPSL now have regionally based staff in the North West, Midlands and offices in the South which will enable them to meet more clients face to face in order to help grow their lotteries.

Further to the announcement of 2 June 2016, the Company maintains its position and believes that a positive outcome will be forthcoming.

Further updates will be released as and when necessary.

For further information contact:

Boxhill Technologies PLC 020 7493 9644

Tim Razzall, Executive Chairman

Website www.boxhillplc.com

Allenby Capital Limited (Nomad & Broker)

John Depasquale/Nick Harriss/ Richard Short 020 3328 5656

This information is provided by RNS
The company news service from the London Stock Exchange

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