HIGHLIGHTS
| 27 weeks ended 30 September 2012 | 26 weeks ended 25 September 2011 | Increase | |
| Revenue | 101.7m | 95.9m | 6.0% |
| Net revenue1 | 49.3m | 41.9m | 17.7% |
| Gross margin | 41.2% | 37.5% | 3.7ppts |
| Operating profit | 18.9m | 16.7m | 13.0% |
| Profit before tax | 18.3m | 15.8m | 15.5% |
| Diluted earnings per share | 20.2p | 16.7p | 21.0% |
| Interim dividend per share | 10.2p | 8.7p | 17.2% |
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345 million transactions processed in the period, up 18%
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Proposed interim dividend of 10.2p, up 17%
Retail
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UK & Ireland retail network transactions increased 17%, with retail services continued strong growth of 24%
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Over 11.6 million Romanian bill payment transactions in the period, up 38%, and the Romanian network continued to grow profitably
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Collect+ has more than doubled transactions to over 3 million and is now available in over 5,000 sites
e&m commerce (Internet and PayByPhone)
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Internet transactions have grown by 22% and net revenue by 13%
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PayByPhone increased transactions to over 10 million, up 27%
David Newlands, Chairman of PayPoint said:
"I am pleased to report respectable growth in transactions, net revenue and operating profits in the first half of this financial year, demonstrating the strength of the UK retail channel. Our Romanian business and our parcels service are both now profitable. In PayByPhone, parking and other mobile payments, such as for tolling, offer substantial future revenue opportunities.
Our retail networks in the UK and Romania continue to deliver profitable growth from our strong client base and breadth of services. We continue to innovate and invest in technology and new services to maintain the premium quality of these retail networks and their competitive advantages. Our e&m commerce businesses are important elements of our strategy to become a multi-channel payments and services company providing us with a foothold in fast growing markets and a bridge from cash to electronic payments.
For the current financial year, trading is in line with the company's expectations. Our retail networks are strong and developing well. We intend to pursue further opportunities to enhance UK retail yield and to grow the Romanian retail network, thereby increasing market share in bill payment and retail services in both countries. We expect continued progress in the internet and mobile payment channels."
