Payzone Ireland operating profit climbs to €5.3m

E-commerce payments business Payzone Ireland’s operating profits rose to €5.3m last year despite a drop-off in sales. Its operating profit, before exceptional items, surpassed the €3.2m figure the previous year.

Turnover fell €800,000 to €162.8m in 2015 — a trend the company’s directors expect to continue in the coming years as the company “diversifies further into customised payment solutions”.

Payzone Ireland’s cost of sales fell from €161.9m to €152m. Payzone Ireland Limited chief executive Jim Deignan said the firm’s financial results illustrate the change in its revenue mix and business strategy.