PayPoint posts 0.8% revenue growth

Collect+ and Yodel owner PayPoint has posted a revenue of £213.5 million for the year end 31 March.

Revenue increase for the company amounted to 0.8% against last year’s £211.9 million. According to a statement from the company, PayPoint said that last year’s sales figures included the mobile payment business PayByPhone and Drop & Collect that were sold off in December 2016. As such the two financial years are not directly comparable. Taken out of the equation, revenue growth actually amounted to a 5% increase.

The PayPoint statement said that the Collect+ parcel shop network currently incorporates 7,436 sites, making it “the largest of its type outside that of the traditional Post Office”.

The network processed 23.4 million parcels over the year, an increase of 2.0%.

PayPoint added: “Since renegotiating our Collect+ arrangements in December 2016, we have been transitioning to a multi-carrier proposition. We have a strong pipeline of parcel opportunities and contract discussions underway with the intention to have at least one live before Christmas, the peak season for parcels.”