Boxhill Technologies PLC Trading Update (8359P)
11 Juni 2015 - 8:00AM
UK Regulatory
TIDMBOX
RNS Number : 8359P
Boxhill Technologies PLC
11 June 2015
11 June 2015
Boxhill Technologies plc
("Boxhill" or the "Company")
Trading Update
Boxhill Technologies plc (AIM: BOX), the payment software and
lottery group, announces a trading update.
HIGHLIGHTS
-- Profitability for the three months ended 30 April 2015
exceeded profitability in the six months ended 31 January 2015.
-- Management remain confident that out-turn for the full year
will show revenue for the financial year ended 31 July 2015 being
at least double revenue in the year ended 31 July 2014 based on
current contracted business.
-- New technology integrations with payment services providers
("PSPs") giving access to a wide array of acquiring banks,
increasing potential transaction capacity.
-- Successful conclusion of Casino Cash pilot.
Payments Division
Boxhill's payment division drove the growth in profits through
the third quarter to exceed the profits gained in the first half of
the year.
The Board reiterates that there will be some negative impact in
May and June due to the lack of football betting in the off seasons
although this is expected to be somewhat offset by events such as
Wimbledon and the Grand Prix series. The Company expects to take
advantage of the relatively quiet months to complete technology
upgrades to servers and the payments platforms. In addition the
Company is targeting to complete integrations with a number of PSP
and specialist providers in order to increase volume capacity and
offer additional card brands as well as alternative payment methods
to merchants alongside VISA and MasterCard.
Casino Cash Machines
The Casino Cash pilot at the Hippodrome Casino has concluded
with positive results. The pilot succeeded in delivering real life
data on the use of the machines in a high footfall casino
environment and there will be a number of improvements made to the
next generation of machines and software. In addition the Company
is working on an innovative funding model allowing for the roll out
of the schemes whilst reducing the cash requirement to keep the
machines compliant with UK regulations. The Company has interest
from overseas operators in rolling out Casino Cash in other
countries and expects to make an announcement in the next quarter
with more details about Casino Cash.
Prize Provision Services ("PPSL")
Prize Provision Services Limited ("PPSL"), the operator of The
Weather Lottery, is in the final stages of completing improvements
to its technical platform, with migration due to be completed this
month.
The improvements will give greater transparency for clients and
has the potential to offer further services to client societies.
Along with a more robust service, the new platform will offer
improved CRM capabilities for both clients and individual customers
alike.
May saw The Weather Lottery hold its first lottery education day
in Manchester where societies in the local area were invited to
learn how to maximise their lottery proceeds. Following the success
of this event the company will be hosting regional roadshows in the
coming months.
Together, the improved infrastructure, CRM, education roadshows
and the introduction of Direct Debit are expected to deliver a net
increase in the total number of lines being played over the next
six months.
Soccerdome
The Company continues to work with Nottingham Council as the
reopening of the Harvey Hadden Sports complex nears, including
negotiating a significant extension to the lease. The Company is in
active discussions with a number of parties with a view to
Soccerdome re-opening and the venue being managed on a joint
venture basis.
Phil Jackson, Chief Executive, commented: "It's great to see the
results of hard work reflected in a positive financial performance
for the third quarter. The Board will continue to scrutinize and
review the shape and offering of our business and place a priority
on expanding those operations that generate revenues."
For further information contact:
Boxhill Technologies PLC 020 493 9644
Philip Jackson, CEO
-----------------------
Website www.boxhillplc.com
-----------------------
Allenby Capital Limited (Nomad
& Broker) 020 3328 5656
-----------------------
Nick Harriss/Nick Athanas/James
Reeve
-----------------------
Walbrook PR - Financial PR 020 7933 8780
-----------------------
Nick Rome/Sam Allen boxhill@walbrookpr.com
-----------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTFMMRTMBTBBLA
Tintra (LSE:TNT)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Tintra (LSE:TNT)
Historical Stock Chart
Von Jul 2023 bis Jul 2024
