Worldpay share price falls more than 11 per cent to be among the FTSE 100’s worst performers after posting disappointing full-year results
Shares in Worldpay fell by more then 11 per cent today as the payments company posted its first round of financial results since it listed on the London Stock Exchange (LSE) last year.
The plummeting share price makes Worldpay among the FTSE 100's worst performers for the trading day so far, along with miners.
Worldpay reported a net profit of £19m for 2015, a significant turn-around from the £47m loss posted the previous year, but it looks like the market was expecting the company to have reported stronger results.
Yet Philip Jansen, Worldpay's chief executive, said he was optimistic, saying today: “We made significant operational and financial progress in 2015. It was a year of considerable achievement, in the implementation of our strategy, in strengthening and deepening our market presence, capabilities and technology, and helping our customers prosper.
"The group has made a good start to 2016, in line with expectations, and these results provide a strong platform for continued growth over the medium term.”
Worldpay was the biggest flotation on the LSE last year. Private equity firms Advent International and Bain Capital bought the payments processing company from Royal Bank of Scotland (RBS) in 2010 for about £2bn.
The company processes payments for more than 400,000 customers across mobile, online and in-store transactions.