PayPoint has seen a 34% increase in pre-tax profits to £8.06m in full-year results to March 31.

The group said that the increase was due to the success of electronic mobile phone top-ups.

Turnover rose from £67.1m to £89m for the period, while operating profit doubled to £12m.

Dominic Taylor, PayPoint’s chief executive, said: “Good growth has been achieved through our strategy of differentiating our product, getting more transactions through the terminals and broadening our product range.”