EML Payments says revenue was higher on new fee income, earnings lower on remediation costs.
Troubled payments’ company EML Payments said revenue was up 21 per cent after it introduced new fees in Europe, but higher costs associated with its remediation program in Ireland dragged earnings lower.
Ms Shand will present the outcomes of the review to shareholders at the company’s annual meeting in November.EML also said it would buy-back $20 million worth of its badly battered shares on market over the 12 months from September 5, after it agreed to sell its investment in Interchecks Technologies. The sale crystallises a four times return on investment of around $10.6 million.
Revenue was up 21 per cent to $234.1 million but underlying profit was down 1 per cent to $32.1 million.
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