Net 1 UEPS Technologies’ revenue up

by Trust Matsilele 0

“Revenue and operating income increased primarily due to higher prepaid airtime sales driven by the rollout of our prepaid airtime product, an increase in the number of UEPS-based loans as we rolled out our product nationally,” said the group in a statement.

(WATCH VIDEO: Reviewing Net1 UEPS FY)

The company reported a segment revenue at 58.4 million US dollars in the second quarter of 2015, down one per cent compared with second quarter of  2014 in US dollars and up 10 per cent on a constant currency basis.

[DATA NT1:Net 1 UEPS Technologies] said part of the growth was impacted by unfavorable impact from the strengthening of the United States dollar against the rand.

The company also said its operational and financial performance once again speaks for itself as it continues to deliver meaningful growth in revenue and earnings.

Serge Belamant, chairman and chief executive of Net1 also said the group’s prospects and pipeline are extremely exciting, particularly as they reflect opportunities in the mobile space, which is the payment paradigm of the future.

“We are globalising, we have the technology, we have the dedicated staff, we have the financial resources and we have the passion,” said Belamant.

“I believe that our efforts, innovations and lateral thinking will be noticed and appreciated by the market and enhance shareholder value.”

(WATCH VIDEO: Net 1 lose 7% of its market value)

Herman Kotzé, chief financial officer of Net1 said the group was thrilled with the sustained top and bottom line growth generated by our core businesses.

“Given our strategic and operational momentum, for fiscal 2015, we now expect fundamental earnings per share of at least 2.28 US dollars, assuming a constant currency base of ZAR10.40/$1 and a share count of 46.5 million shares.”