PayPoint plc (PAY.L) has reported a 1.9% uptick in its group net revenue for the third quarter, reaching £53.0 million compared to £52.0 million in the corresponding period last year. This growth is largely attributed to strong performances from the E-commerce and Love2shop divisions during the quarter.
In detail, the Shopping division experienced a 2.0% decline in net revenue year-over-year, settling at £16.1 million. Conversely, the E-commerce division exhibited robust growth, with net revenue increasing by 32.0% year-over-year to £4.1 million.
The Payments & Banking division recorded a slight increase in net revenue, up by 0.8% to £14.0 million from the previous year. Meanwhile, the Love2shop division saw a modest 1.3% rise in net revenue, reaching £18.8 million compared to the prior year.
The company has announced a heightened interim dividend of 19.4 pence per share, marking a 2.1% increase from the previous half-year's 19.0 pence per share. This dividend will be distributed in two equal installments of 9.7 pence per share, scheduled for payment on 20 December 2024 and 28 March 2025.
Additionally, the company affirmed its confidence in meeting fiscal year 2025 expectations and advancing towards its goal of achieving £100 million in EBITDA by the conclusion of fiscal year 2026.
