PayPoint Plc (PAY.L), a British payment service provider, on Thursday recorded a rise in profit before tax for the first-half, helped by an increase in revenue and net movement on investment fair values.
For the six-month period to September 30, the company posted a pre-tax income of 23.107 million pounds, higher than 17.182 million pounds, registered for the same period last year.
Excluding items, pre-tax earnings were at 26.9 million pounds, compared with 21.8 million pounds in the previous year.
Net profit stood at 17.305 million pounds or 23.5 pence per share as against last year's 12.806 million pounds or 17.4 pence per share.
Underlying profit was 27.4 pence per share, higher than 22.1 pence per share a year ago.
Operating profit also rose to 26.347 million pounds from 20.785 million pounds last year. Excluding items, operating profit was 30.166 million pounds, higher than 25.381 million pounds a year ago.
Net movement on investment fair values was 2.693 million pounds, compared with zero pounds in 2023.
Revenue was 135 million pounds, compared with prior year's 126.501 million pounds. The company has declared an interim dividend of 19.4 pence per share, which will be paid in equal installments of 9.7 pence per share on December 20 and March 28, 2025 to shareholders on the register as of November 29 and February 28, 2025, respectively.
Looking ahead, Nick Wiles, Chief Executive of PayPoint, said: "This has been a strong half year for PayPoint where we have delivered a positive financial performance and made further progress towards our medium-term target of delivering £100m underlying EBITDA by the end of FY26."
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