PayPoint Plc (PAY.L), a British payment system provider, on Thursday registered a rise in earnings for the full year, helped by an increase in revenue.
In addition, the Group has announced 20 million pounds of share repurchase drive.
For the 12-month period to March 31, the company recorded a pre-tax income of 48.2 million pounds, higher than 42.6 million pounds, posted a year ago. This increase reflects a full year of profit contribution from the Love2shop or L2s segment compared to the prior year which only included one month.
L2s segment registered underlying profit before tax of 11.2 million pounds as against last year's 0.5 million pounds.
Underlying profit before tax moved up to 61.7 million pounds from 50.8 million pounds a year ago.
Net profit stood at 35.687 million pounds or 48.8 pence per share as against previous year's 34.710 million pounds or 49.6 pence per share.
Underlying earnings per share were up at 62.6 pence per share, compared with 60.3 pence per share in the previous year.
Operating profit before adjusting items was 68.681 million pounds, compared with 53.383 million pounds in 2023.
Operating profit after adjusting items increased to 56.299 million pounds from 45.492 million pounds a year ago.
Revenue increased to 277.816 million pounds from previous year's 165.220 million pounds.
Total revenue surged to 306.4 million pounds from last year's 167.7 million pounds.
Full-year revenue from L2s segment was at 51.3 million pounds, compared with one month revenue of 3.4 million pounds in the previous year.
Revenue from the PayPoint segment increased to 169.8 million pounds from 160.1 million pounds predominately driven by the growth in e-commerce, with parcel transactions exceeding 100 million in the year.
The Board will pay a final dividend of 19.2 pence per share, higher than last year's final dividend of 18.6 pence per share. The final dividend will be paid in equal installments on August 6 and September 27 to shareholders on the register as of July 5 and August 30, respectively.
PayPoint has announced its intention to begin a three-year share repurchase program that will return at least 20 million pounds to shareholders over the next 12 months.
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