Boxhill Technologies PLC AGM Trading Statement (3706M)
July 28 2017 - 1:01AM
UK Regulatory
TIDMBOX
RNS Number : 3706M
Boxhill Technologies PLC
28 July 2017
28 July 2017
BOXHILL TECHNOLOGIES PLC
("Boxhill", the "Group" or the "Company")
AGM Trading Statement
Further to the earlier announcement by the Board of Directors of
Boxhill (the "Board") regarding the final results for the 12 month
period to 31 January 2017; the Group is pleased to give the
following trading statement.
Since January 2017 the Group has seen improvement across the
Payments Division, both in revenue and technology roll out.
In July 2017 EmexGo started issuing Virtual IBANs meaning that
its customers are able to supply their account information in
standardised international bank account format, with the customer
as the named beneficiary, to receive inward payments. Available in
multiple currencies this important improvement makes our services
user friendly and therefore more attractive to those wishing to use
alternative payment platforms by utilising internationally
understood account formats which other providers are unable to
do.
Further to this we have launched a high value transfer service,
facilitating transactions in excess of EUR10,000,000 for corporate
and individual customers. The service, driven by customer
requirements, takes into account the additional care and attention
that such low frequency but high value transactions require to
complete smoothly. We expect at least one high value transfer per
quarter and are currently working on several transactions,
including one of a nine figure value and is currently being
executed via a novel secure process through the banking system via
EmexGo with the final destination being a UK tier 1 high street
bank.
The card processing business is making good progress once again
with new services including offering merchants Union Pay acceptance
as well as Visa and MasterCard services. Our combined offering of
card services and Virtual IBANs is being taken up by customers as
we can reduce the time for settlement improving cash flow and
saving money for our merchants.
Revenue from EmexGo in the first half of the year has already
exceeded last year's total (excluding the fees to be earned on the
above mentioned high value transactions) and we anticipate the card
processing revenues to grow as in previous years and expect to see
growth and momentum return to above H12016 levels through the
second half of the year. The Company continues to seek a
high-calibre chief executive to help it grow into the future.
For further information contact:
Boxhill Technologies PLC 020 7493 9644
Lord Razzall, Chairman
Website www.boxhillplc.com
Allenby Capital Limited (Nomad & Broker)
John Depasquale/Nick Harriss/ Richard Short 020 3328 5656
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCKMGZNMNVGNZZ
(END) Dow Jones Newswires
July 28, 2017 02:01 ET (06:01 GMT)
Tintra (LSE:TNT)
Historical Stock Chart
From Apr 2024 to May 2024
Tintra (LSE:TNT)
Historical Stock Chart
From May 2023 to May 2024