Paypoint has just issued a trading update for the last quarter of 2024, highlighting the company’s performance across its various divisions and outlining its plans for future growth.
Poins of note from the report include news that the group is in strong growth, and that net revenue increased by 1.9% to £53m, driven by strong performance in its ecommerce and Love2shop divisions. There was also a solid outcome for the Park Christmas Savings campaign and positive news for shareholders.
Commenting on the report, Nick Wiles, chief executive, said: “Our business has continued to deliver further progress in the third quarter, building on our strong first half year performance, despite a more challenging overall trading environment and a stalled recovery in consumer confidence.
“In shopping, the use of data and analytics to drive better support to our retailers and card merchants is becoming increasingly important and we’ve initiated a number of projects to better harness these capabilities to support engagement with our retailers, identifying performance trends in the PayPoint and card merchant networks and where best to direct new resources to deliver the highest return.”
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