Payzone: sales dip + profit increase highlight diversification

Payzone CEO Jim Deignan. Pic: Payzone.ie
Payzone CEO Jim Deignan describes the acquisition as "a vote of confidence in the future of the business." (Pic: Payzone.ie)

Payzone, Ireland's largest provider of multi-channel consumer payments, has reported its 2015 results, which the company says illustrates its changing business strategy.

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16 August 2016 | 0

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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.

 

 

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