Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Payments technology company Network International booked a 14% rise in annual profit from continuing operations, after it processed a greater volume of transactions in the Middle East and Africa and hosted more cards.
Pre-tax profit from continuing operations for the year through December rose to $65.6m, up from $57.7m on-year.
The company also booked a loss of $2.1m from discontinued operations, less than a $23.3m loss on discontinued operations reported on-year.
Revenue rose 12% to $334.9m, as total processed volume rose 9.6%, cards hosted rose 4.4% and transaction numbers rose 10.4%.
Network International declared a final dividend of 3.1c in line with its stated dividend policy to payout up to 15% of underlying net income.
'We have achieved strong financial performance during the year, delivering on the strategic priorities and guidance we set out at the time of IPO,' chief executive Simon Haslam said.
'We remain excited by the growth opportunities available to our business; through market consolidation, substantial outsourcing contracts, or selective acquisitions.'
'Such opportunities typically require investment and time to develop, but will generate significant incremental returns over the longer term.'