PayPoint has posted a drop in full-year sales as mobile top-ups continue to fall.

The e-payment provider said sales fell 1.7% to £193.2m in the year to 27 March. Mobile top-ups in the UK, Ireland and Romania were down 10% overall, against an 11% decline this time last year.

Despite the decline, PayPoint said its UK retail network had seen "healthy growth" in the year with net revenues from retail services such as parcels, ATMs, SIM cards, debit and credit card acceptance, receipt advertising and money transfer up 25% year-on-year.

Group profits also rose 5.5% to £34.5m.

"Our established business streams are strong, with further opportunities to enhance retail yield through the introduction of new technology and services," said chairman David Newlands. "In addition, improvements in our service offering to online merchants will provide opportunities for growth."

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