PayPoint, the utility payment network, will float on the stock exchange on September 24 and the company will be valued at £129.5m.
PayPoint operates collection systems in convenience stores enabling customers to pay household bills, top up mobile phones and also pay the £5-a-day London congestion charge.
The company made a pre-tax profit to March 31 of £6.1m on revenue of £67.1m, compared with a pre-tax profit of £2.7m on £50.3m revenue in 2003 and a loss of £1.4m on £26.1m in 2002.
Around 50% of the company’s operators are independent retailers or members of small groups, with the remainder including members of Spar, Londis and Costcutter and stores run by co-operative societies, Texaco, Somerfield and Tesco’s c-store chain One Stop.
PayPoint operates collection systems in convenience stores enabling customers to pay household bills, top up mobile phones and also pay the £5-a-day London congestion charge.
The company made a pre-tax profit to March 31 of £6.1m on revenue of £67.1m, compared with a pre-tax profit of £2.7m on £50.3m revenue in 2003 and a loss of £1.4m on £26.1m in 2002.
Around 50% of the company’s operators are independent retailers or members of small groups, with the remainder including members of Spar, Londis and Costcutter and stores run by co-operative societies, Texaco, Somerfield and Tesco’s c-store chain One Stop.
No comments yet