Paypoint Regulatory News (PAY)

13 Sep 2006 07:04

PayPoint PLC13 September 2006 13 September 2006 PRESS RELEASE PayPoint plc Trading update Transaction volumes and revenues to August are 26% and 30% respectively ahead ofthe same period last year. As expected, relatively higher growth in lower margintransactions (Ireland and epos) has resulted in net revenue growth of over 20%(net revenue is revenue less agent commission and the cost of Irish mobiletop-ups). Operating margins are running at a similar level as the same periodlast year. Terminal growth in the UK is ahead of plan and should exceed the target of17,000 by the end of the current financial year. ATM growth continues moreslowly, running at a net increase of just over 35 new sites per month as goodquality sites become more difficult to find. The ATM target remains 2,000. Energy prepayment volumes have continued to grow, benefiting from increased gasand electricity prices, although there has also been a marked increase in theaverage value paid by the consumer for each transaction. The migration of mobile top-ups from PayPoint terminals to the retailer's epossystem for the one remaining large multiple retailer remains incomplete and isprogressing with completion expected in the second half of the current financialyear. ATM transactions have grown substantially, with the average number oftransactions per month increasing over the same period last year, dividedbetween cash withdrawals and balance enquiries, with the latter increasing moresharply. Enquiries: PayPoint plc 01707 600 300Dominic Taylor, Chief ExecutiveGeorge Earle, Finance Director Finsbury 020 7251 3801Rollo HeadDon Hunter About PayPoint PayPoint is a leading branded payment collection network used, primarily, forthe cash payment of bills and services and prepayments for mobile telephones andenergy meters. There are over 15,000 retail outlets using PayPoint's paymentterminals. Its clients include most of the UK and Ireland's major energy, cable, mobile andfixed line telephony companies. Its blue chip client list also extends tonumerous water companies, local authorities, housing associations, credit unionsand a growing transport and travel base. This information is provided by RNS The company news service from the London Stock Exchange