PayPoint has reported a 5% increase in pre-tax profits to £14.6m for the six months to 26 September.

The number of retail service transactions rose 22% to 22.7m while the value of its transactions grew 2% to £194.2m. "We're now putting a much better focus on improving our service to retailers and improving their yields," said chief executive Dominic Taylor.

Its fledgling Collect+ service continued to make a loss, but Taylor said he expected it would enter the black next financial year as PayPoint goes on a recruitment drive to expand the service beyond the current 3,400 retailers.