PayPoint sees its profits decline

Payment services provider PayPoint said yesterday that profit in 2010 declined 5.7 per cent but current trading is in line with company forecasts for this financial year. The group, which bought payments by mobile phone company PayByPhone in March, said pre-tax profit declined to £32.6m in the year ended 28 March 2010 from £34.6m the year earlier. Revenue for the period dropped to £196.6m from £224.4m previously.

A final dividend of 14.4p has been recommended, up 24.1 per cent from 2009.