PayPoint Plc
Postponement Preliminary Results FY23 Announcement
PayPoint Plc announces that its auditors, KPMG, have informed them that they are unable to complete the work necessary for PayPoint Plc to release its Preliminary Results for FY23 on Thursday 6 July 2023. The delay is due to a technical accounting treatment relating to the balance sheet of the Appreciate Group (“Appreciate”) at acquisition and at year end, which is still in the process of being reviewed.
As a result, the Company will release its Preliminary Results for FY23 as soon as KPMG have completed this work. A further announcement will be made in due course.
The Board reconfirms that Group net revenue, excluding Appreciate Group, is expected to be around £125m (FY22: £115.1m) with accelerated revenue growth across all three business divisions. The Group anticipates that profit before tax for the financial year ended 31 March 2023 will be at the top end of the range of market expectations, excluding exceptional items and Appreciate impacts since completion of the acquisition, driven by the strong momentum across the business.
Trading early in the current financial year has been positive, continuing the performance seen in FY23. We have detailed execution plans in place to capitalise on the positive momentum built up in our key growth areas of card processing, Open Banking, parcels, integrated payments and the new Love2shop division (previously Appreciate), delivering profitable growth in our retail and card estates, further enhancements to our proposition and positive new business growth in key target sectors.
Enquiries
PayPoint plc FGS Global
Nick Wiles, Chief Executive (Mobile: 07442 968960) Rollo Head
Alan Dale, Finance Director (Mobile: 07778 043962) James Thompson
(Telephone: 0207 251 3801)
(Email: [email protected])
ABOUT PAYPOINT GROUP
For tens of thousands of businesses and millions of consumers, we deliver innovative technology and services that make life a little easier.
The PayPoint Group serves a diverse range of organisations, from SME and convenience retailer partners, to local authorities, government, multinational service providers and e-commerce brands. Our products are split across four core business divisions:
- In Shopping, we enhance retailer propositions and customer experiences through EPoS services via PayPoint One, card payment technology, Counter Cash, ATMs and home delivery technology partnerships in over 60,000 SME and retailer partner locations across multiple sectors. Our retail network of over 28,000 convenience stores is larger than all the banks, supermarkets and Post Offices put together
- In E-commerce, we deliver best-in-class customer journeys through Collect+, a tech-based delivery solution that allows parcels to be picked up, dropped off and sent at thousands of local stores
- In Payments and Banking, we give our clients and their customers choice in how to make and receive payments quickly and conveniently. This includes our channel-agnostic digital payments platform, MultiPay, offering solutions to clients across cash, card payments, direct debit and Open Banking. PayPoint also supports its eMoney clients with purchase and redemption of eMoney across its retail network.
- In Love2shop, we provide gifting, employee engagement, consumer incentive and prepaid savings solutions to thousands of consumers and businesses. Love2shop is the UK’s number one multi-retailer gifting provider, offering consumers the choice to spend at more than 140 high-street and online retail partners. Park Christmas Savings is the UK’s biggest Christmas savings club, helping over 350,000 families manage the cost of Christmas, by offering a huge range of gift cards and vouchers from some of the biggest high street names.
Together, these solutions enable the PayPoint Group to create long-term value for all stakeholders, including customers,
communities and the world we live in.
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