Yodel update
PayPoint Plc
21 June 2024
Regulation (EU) No 596/2014 of the European
Parliament and of the Council of 16 April 2014 on market abuse (the
“Market Abuse Regulation”) requires disclosure of inside
information relating to PayPoint Plc (the “Issuer”). This
announcement contains inside information as defined in Article 7 of
the Market Abuse Regulation and is disclosed in accordance with the
Issuer's obligations under Article 17 of the Market Abuse
Regulation.
Yodel update
PayPoint notes the announcement today by Yodel following the
successful completion of its comprehensive strategic review. This
will see Yodel operate as a stand-alone legal entity, under the
leadership of CEO Mike Hancox and his ongoing Executive team.
As part of the review, PayPoint has made a strategic investment
into the Yodel business, alongside other partners. The investment
strengthens the partnership between the two companies and will
enable further opportunities through the fast-growing Out of Home
(OOH) delivery market.
Collect+, the leading OOH network in the UK, operates out of
over 11,000 locations and has experienced positive growth over the
past two years, processing over 100 million parcel transactions in
FY24. The business is one of the six key building blocks to
delivering the Group’s target of £100 million EBITDA by the end of
FY26.
Nick Wiles, CEO of PayPoint, said:
“As a long-standing partner, we are delighted to be making a
strategic investment in a key partner and that Mike Hancox and his
executive team will continue to lead the Yodel business, supporting
further growth through our leading parcels network, Collect+. As
consumer behaviour continues to shift towards OOH, our continuing
strategic partnership with Yodel is an important driver to
delivering £100 million EBITDA by the end of FY26.”
Enquiries
PayPoint plc
FGS Global Nick Wiles, Chief Executive
(Mobile: 07442 968960)
Rollo HeadRob
Harding, Chief Financial Officer (Mobile: 07525 707970)
James Thompson
(Telephone: 0207 251 3801)
(Email:
PayPoint-LON@fgsglobal.com)
ABOUT PAYPOINT GROUP
For tens of thousands of businesses and millions of consumers,
we deliver innovative technology and services that make life a
little easier.
The PayPoint Group serves a diverse range of organisations, from
SME and convenience retailer partners, to local authorities,
government, multinational service providers and e-commerce brands.
Our products are split across four core business divisions:
- In Shopping, we enhance retailer propositions and customer
experiences through EPoS services via PayPoint One, card payment
technology, Counter Cash, ATMs and home delivery technology
partnerships in over 60,000 SME and retailer partner locations
across multiple sectors. Our retail network of over 28,000
convenience stores is larger than all the banks, supermarkets and
Post Offices put together
- In E-commerce, we deliver best-in-class customer journeys
through Collect+, a tech-based delivery solution that allows
parcels to be picked up, dropped off and sent at thousands of local
stores
- In Payments and Banking, we give our clients and their
customers choice in how to make and receive payments quickly and
conveniently. This includes our channel-agnostic digital payments
platform, MultiPay, offering solutions to clients across cash, card
payments, direct debit and Open Banking. PayPoint also supports its
eMoney clients with purchase and redemption of eMoney across its
retail network.
- In Love2shop, we provide gifting, employee engagement, consumer
incentive and prepaid savings solutions to thousands of consumers
and businesses. Love2shop is the UK’s number one multi-retailer
gifting provider, offering consumers the choice to spend at more
than 140 high-street and online retail partners. Park Christmas
Savings is the UK’s biggest Christmas savings club, helping over
350,000 families manage the cost of Christmas, by offering a huge
range of gift cards and vouchers from some of the biggest high
street names, including Argos, Primark and B&M.
Together, these solutions enable the PayPoint Group to create
long-term value for all stakeholders, including
customers,communities and the world we live in.
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