Collect+ volumes increased by 22% year-on-year in the first quarter as PayPoint enjoyed an “encouraging start to the year”.
The parcel delivery service saw over 4.9 million transactions in the three months to the end of June, according to PayPoint’s first quarter results. The number of Collect+ sites increased by 25 to 5,856 since the financial year end.
PayPoint said its overall trading for the period was in line with the company’s expectation, with transactions processed for the quarter up 6% to 201.6 million compared to the same period last year.
Net revenues were £29m, up 1% on last year with growth in retail services partially offset by a decline in mobile top-ups and bill payments. Retail services transactions (ATMs, debit/credit cards, parcels, money transfer and mobile phone SIM cards) were up 24% on last year. Overall, revenues of £51m were down 2% on last year.
Dominic Taylor, PayPoint’s chief executive, said: “We have had an encouraging start to the year and remain excited about the growth opportunities presented by our retail businesses.
“The proposed sale of our parking and online payment processing companies is progressing satisfactorily and we will update shareholders further in due course.”