PayPoint has announced a fall in UK like for like revenue for the year to 31 March 2016.
UK revenue was down from £173.9m to £168.9m, while total revenue, including the UK, Ireland, Romania and North America, was down by 2.7% to £212.6m.
Total pre-tax profits were also down by 83% to £8.2m – driven by the sale of PayPoint’s mobile payments business.
UK and Irish bill and general transactions were down 4.1% due to lower energy transactions, while top-up transactions decreased as a result of the continued decline in mobile top-up volumes in the UK and Ireland of 12.9%.
Total retail services transaction volume increased across all products. ATM transactions increased by 22.1%, payment card transactions by 17.4%, money transfer transactions by 25.7% and parcels by 10.1% over last year.
In the UK and Ireland, terminal site numbers have also expanded by 780 to 29,087, an increase of 2.8%.
More than 10,111 sites provide payment card capability, including the functionality for retailers to accept convenient contactless card transactions.
PayPoint also increased the number of sites offering the Collect+ parcels service in the year by 105, bringing the total to 5,936 sites. However site growth has been constrained during the discussion of the future of Collect+ with Yodel, it said.
PayPoint chairman Nick Wiles said: “Following our decision last year to dispose of our mobile and online payment businesses, the executive team have begun the process of simplifying structures, reviewing ways to improve efficiency, adopting values that will help address our service to retailers and improving engagement generally across the business.
“We have concluded our review of the Company strategy, which recognises the importance of our retail networks and our non-cash payment channels. We are engaged in putting the retailer at the heart of our service offering, improving our response times to retailers and the quality of our service.
“Our new terminal, PayPoint One, now entering commercial trials, will help us to gain a more central role in independent and symbol group retailers, providing them with our payments and services solution and a retail electronic point of sale system in one device.”