PayPoint, the electronic payment provider, has reported a 14% increase in pre-tax profit to £30m on sales up 35% at £212m for the year to 30 March.

The figures had been boosted by a 22% increase in transactions to 503 million, with a value of £7.5bn, PayPoint said.

“PayPoint has delivered another set of strong results with increases in both revenues and profits,” said chairman David Newlands. “There remains further opportunities for future growth through market share gains, new initiatives and new products.”