PayPoint sells its Romanian operations for 47 million pounds

The UK cash and online payment operator PayPoint PLC announced on Wednesday that it has reached an agreement on the sale of operations in Romania to Innova Capital for 47 million pounds in cash.

The company explained that the sale is in line with PayPoint’s emphasis on its strategic priorities and will generate growth and value in the UK main markets.

In the financial year ended March 31, 2020, PayPoint Romania generated revenues of £ 69.7 million, an operating profit of £ 7.3 million and a pre-tax profit of £ 6.8 million pounds.

Also, PayPoint Romania’s gross assets stood at £ 48.5 million as of March 31, 2020.

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