Payzone, the retail points of sale operator, has reported an increase in turnover but a drop in profit in 2011 results filed with the CRO.
The company has reported a 5% increase in turnover to €234.3m in the 12 months to the end of September 2011.
Results filed with the Companies Registration Office record pre-tax profit was €5.8m, down from €6.2m the previous year.
Payzone operates 11,500 retail points of sale in Ireland through a variety of electronic transactions services, including mobile phone top ups, debit/credit card transactions; M50 motorway toll payments; Luas travel cards and pre-paid utility cards.
Jim Deignan, Managing Director, Payzone Ireland said the most notable aspect of the business was the diversification into new areas of electronic customer payments noting expansion into what he described as "cost effective and secure payments services for both private and public sectors."
He further said that he believed that Payzone was ideally placed to offer a national service to the public sector, for example, in collecting household charges or water rates.
Payzone processes over 50 million transactions in Ireland annually in retail, online and mobile phone payments.
