Datacash sees its profits surge

PAYMENT service provider DataCash, which is to be bought by the world’s second-largest credit card network MasterCard, posted a 9.6 per cent rise in first-half adjusted pre-tax profit on strong performance across its segments.

For January to June, DataCash posted an adjusted pre-tax profit of £8.3m, up from £7.5m a year ago. Revenue rose 6.3 per cent to £19.2m. Cash balance at the end of June was £19.5m. In August MasterCard said it would buy DataCash for £333m in cash to expand its online commerce business.