(Alliance News) – Network International Holdings PLC on Wednesday posted a first-half profit jump and said it expects revenue to beat pre-virus levels.
Shares in the company were 6.4% higher at 375.10 pence each in London on Wednesday morning.
The Middle East and Africa-focused payment solutions provider said revenue in the six months to June 30 rose 17% year-on-year to USD156.4 million from USD134.2 million.
Pretax profit jumped to USD17.0 million from USD1.2 million a year earlier.
The company also hailed a “recovery of its key performance indicators”. Total processed volumes rose 19% to USD19.0 million from USD16.0 million. The total number of transactions was 29% higher at 459.8 million from 355.6 million.
“It is encouraging to see the business continuing to take strides. We are seeing a recovery from Covid-19, with the majority of [key performance indicators] now ahead of pre-pandemic levels, including the signing of new merchant and bank customers. At the same time, we have yet to see a full recovery in our Merchant Solutions business, which is reflective…
