Paypoint PLC (LSE:PAY) shares jumped 12.7% to 564.81p as the payments group said it remains on track to deliver record profits for the year after reporting solid trading in its third quarter.
Group net revenue was broadly flat at £52.7 million in the three months to end-December, with growth in payments & banking and e-commerce offsetting a decline in the Love2shop division.
Parcel volumes rose 6.7%, with Royal Mail volumes continuing to build and seasonal services performing strongly.
Chief executive Nick Wiles said: “These results reflect our focus on operational delivery in the business, achieved against a continued background of subdued consumer spending and a challenging market environment.”
Love2shop Business and the Incomm Payments partnership both saw strong billing growth, with the company saying revenue recognition for expired cards will support fourth-quarter results. Park Christmas Savings performed in line with expectations.
It was a record quarter in business finance through YouLend and continued progress in its payment platform and card services. Its retailer network also grew, with new initiatives planned to support partners.
The group said it will provide a strategy update at a capital markets day later in the year, following full-year results due in June.