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PayPoint ends year in line with expectations
(Sharecast News) - PayPoint said in an update on Wednesday that it expects to report full-year results in line with market expectations, with underlying EBITDA around £90m for the year ended 31 March. The FTSE 250 company said underlying profit before tax was also expected to meet forecasts, and year-end net debt was anticipated to come in below £100m.
It said it continued its three-year share buyback programme, purchasing 2.23 million shares at a total cost of £15.9m by 17 April.
PayPoint's final results were scheduled for release on 12 June, when it would also provide an update on its long-term strategy and financial targets through to the 2028 financial year, including details on the next phase of the buyback.
The company described its trading performance as showing further progress across the business, reinforcing confidence in its outlook and capital allocation strategy.
At 0849 BST, shares in PayPoint were up 2.16% at 663p.
Reporting by Josh White for Sharecast.com.
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