PayPoint considers buyback after strong full year

PayPoint said on Monday that it was mulling a potential share buyback after a strong full-year performance.

In a post-close update for the year to the end of March 2024, the company said it expects underlying earnings before interest, tax, depreciation and amortisation to be in excess of £80m.

Year-end net debt is expected to be below £70m and underlying pre-tax profit in line with expectations, as outlined in the third-quarter update in January.

"The strength of this performance, underpinned by sustained strong cash flow and our confidence in the delivery of continued growth and achieving our financial targets, has enabled the board to now have under active consideration a share buyback programme to further enhance shareholder returns," it said.

At 1010 BST, the shares were up 7.2% at 521.02p.