Paypoint chair ups stake after average results

Paypoint’s chairman is putting more skin in the game, after picking up another £80,000 in shares in his company.

The FTSE 250 group revealed on Monday that Nick Wiles purchased 10,000 shares for 797p.

It takes his total shareholding to 35,000 shares - a stake of 0.05%.

It followed news from Paypoint last week that its third quarter revenues have dipped due to a decline in top ups and the unseasonably warm weather.

While revenue excluding the cost of mobile top ups, SIM cards and other costs which are recharged to clients rose 1.8% to £35m, total revenues dropped 3% to £58.1m.

Paypoint said it saw 22.7% growth in retail services and 9.6% growth in Mobile and Online, however they were offset by a 13.7% decline in top ups and a 2.4% drop in bill and general revenues, with the latter mainly due to lower energy consumption.

The company also said the adverse VAT ruling from HMRC previously reported as well as the unseasonably warm weather has slowed the improvement in its results.

Shares in Paypoint were flat on Monday at 1612 GMT at 790p.

Top Director Buys

PayPoint (PAY)
Director name: Mr Nick Wiles
Amount purchased: 10,000 @ 797.00p
Value: £79,700

7Digital Group (7DIG)
Director name: Mr Paul McGowan
Amount purchased: 250,000 @ 13.25p
Value: £33,125

Top Director Sells

Learning Technologies Group (LTG)
Director name: Mr Jonathan Satchell
Amount sold: 1,750,000 @ 33.00p
Value: £577,500

Porvair (PRV)
Director name: Mr Ben Stocks
Amount sold: 131,600 @ 287.82p
Value: £378,771

Porvair (PRV)
Director name: Mr Christopher Tyler
Amount sold: 86,600 @ 287.82p
Value: £249,252