W.A.G Payment Solutions Plc (WPS.L), a platform to process freight and road payments across Europe, on Thursday reported an increase in preliminary revenue for the full year.
This is supported by organic growth in both new customers and the cross-selling of new capabilities, as well as the significant contribution of around 37 million euros from the acquisition of Inelo.
For the full year, the company reported revenue of around 256 million euros, higher than last year's 191 million euros.
For the fourth quarter, revenue moved up to 72 million euros from 55 million euros a year ago.
At the end of the fourth quarter, the average number of payment solutions active customers rose to 18,800 from last year's 17,522.
At the end of the fourth quarter, the average number of payment solutions active trucks stood at 98,300, higher than 90,980 in 2022. Looking ahead, the company said: "We expect net revenue growth to be mid-teens in the near-term and return to high teens in the medium-term. FY 2023 margin levels should be in line with FY 2022, at around 43%, and improve to high-forties in the medium-term."
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