Payzone annual revenue drops to €171 million

Jim Deignan, managing director at Payzone Ireland welcomes the new deal with online shopping company, Oxendales
Jim Deignan, managing director at Payzone Ireland

Sales drop by nearly €24 million at Payzone yet operating profit before exceptional items more than doubles

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16 July 2015 | 0

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Payzone Ireland Limited (Payzone) has reported a drop in sales from €194.8 million to €170.9 million for the 12 month period ended 30 September 2014 in accounts recently filed with the Companies Registration Office (CRO). Operating profit, before exceptional items, was €3.3 million compared to €1.4 million in the previous year.

Explaining the reasons behind this significant rise in operating profits, despite a fall in sales, Jim Deignan, managing director of Payzone Ireland told ShelfLife:”Convenience retail represents only one aspect of our business and despite the reduction in turnover, largely attributable to declining mobile top up revenues, 2014 saw progress being made by Payzone in generating contributions in new areas including the licencing of software internationally and the provision of solutions to clients across the online and mobile channels.” 

Commenting on the performance for the year, Deignan described 2014 as “another good year for Payzone Ireland” and said the company had introduced a number of new services that make consumers’ lives easier, such as Parcel Connect that allows customers to send, collect and return online goods via their local Payzone branded store.

“Our balance sheet at the year-end demonstrates Payzone’s strong financial position and ability to invest in future growth as we move and transition ourselves to become a multi-service, multi-channel player providing electronic payment services across retail, mobile and online,” Deignan said.

“2015 is progressing well and in line with growth forecasts,” he added.

Processing over 64 million transactions per year in Ireland in retail, online and mobile phone payments, Payzone employs over 70 people in its Sandyford head office. The company currently has over 7,500 retail locations and as well as mobile phone top ups, the services processed by Payzone include debit/credit card transactions; M50 motorway toll payments; Leap travel cards, local property tax payments, parking fees and pre-paid utility cards.

 

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