Payzone: sales dip + profit increase highlight diversification
Payzone, Ireland's largest provider of multi-channel consumer payments, has reported its 2015 results, which the company says illustrates its changing business strategy.
16 August 2016
Payzone, Ireland’s largest provider of multi-channel consumer payments, has reported its 2015 results, which the company says illustrates its changing business strategy. The company’s sales totaled €162.8m in the year ending September 2015, compared to €170.9m in the previous year. In contrast to this sales dip, the company also reported an operating profit of €5.3m against €3.2m in the previous 12-month period.
Payzone’s CEO Jim Deignan described the 2015 financial results as illustrative of the change in the company’s revenue mix and business strategy. “2015 was a good year for Payzone,” he said, “as we continued to rebalance our portfolio of products and services to reflect marketplace changes.
“Through ongoing technology developments we have successfully diversified into a wider range of customised payment solutions,” Deignan said, “which have improved our overall business performance.”
Payzone currently processes more than 65m transactions annually, of which online transactions account for 10%. Deignan added that contactless payments are also showing strong growth.