Despite mobile phone top-ups continuing to decline, PayPoint has notched up a modest rise in profits for the past six months.

Transactions processed were up 6% despite mobile top-ups sliding again, especially in Romania and Ireland, with pre-tax profits up more than 5% to £14.6m. Revenues for the period were down almost 4% £92.9m

Chairman David Newlands hailed “another strong set of results” for the group.

“These results demonstrate our ability to execute strategy, delivering improved yield in our established business streams and growth in our developing businesses,” he said. “In our established business streams, we have focused our attention on growing retail services and contracting with new internet merchants.”

PayPoint said trading since the end of the period had been “in line with the company's expectations”.

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