Progress in strategic priorities
Delivering against our strategy of refocussing PayPoint on our retailers:
o Following successful commercial trials, PayPoint One and Core EPoS were launched in September
o Retail services including investment in rollout and support for PayPoint One and Core EPoS, increasing in the second half
MultiPay transactions (3 million), up 38.1%; 14 clients contracted. SSE live ahead of customer rollout in 2017
Collect+ discussions with Yodel and Mobile sale process both progressing
Financial results
Retail services net revenue growth of 14.7% but bill payments growth has moderated
Revenue reduced by 1.1% as a result of the sale of Online, offset by growth in Retail and Mobile
Adjusted operating profits2 increased by 15.6% driven by growth from Romania and Mobile and deferral of costs
Strong balance sheet with cash of £49.6 million and undrawn credit facility of £45 million
Increase in interim dividend by 5.6% to 15.0p per share
Commencement of additional dividend of 12.2p per share as announced in full year results
Operations
Retail network transaction volumes down 1.9% to 307.1 million due to bill and general and top-up decline in the UK offset by growth in retail services and Romania
Strong growth in Romania bill payment transactions up by 11.7% to 32.6 million, sites up by 12.7% to 10,662
Collect+ parcels increase 5.7% to 10.5 million
Mobile payments business transaction volumes up 27.5% to 30.0 million
Total retail network sites increased to 39,635 and Collect+ sites to 5,960
