St James House PLC Trading Update (0817W)
06 Dicembre 2019 - 2:00PM
UK Regulatory
TIDMSJH
RNS Number : 0817W
St James House PLC
06 December 2019
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
06 December 2019
ST. JAMES HOUSE PLC
("SJH", the "Group" or the "Company")
Trading Update
The Board of Directors of the Company (the "Board") is pleased
to provide the following trading statement and update on recent
developments (the "Update").
Payments Division
The payments division has seen orders for pre-paid cards exceed
13,000 in November, with 700 delivered and activated as at 30
November 2019. The Board believes it remains on target for the
revised forecast of 20,000 cards to be delivered and activated by
the end of January.
Euro IBAN wallets are now available to clients and fully
functional, giving fast, seamless and low-cost transactional
capability across 33 countries. Market Access t/a Another
("Another") now provides Euro account clients with full access to
borderless payments across the EU Member states plus Iceland,
Liechtenstein, Norway, Switzerland, Monaco and San Marino.
Additionally, the Another Euro pre-paid card is fully connected to
the IBAN account so that balances can be automatically swapped
between cards and accounts simply through one platform. Pound
Sterling accounts are being rolled out for qualifying clients with
a view to a broader roll out in the New Year, with US Dollar to
follow shortly. Foreign exchange and international payments through
the SWIFT system are now also available for those transactions
which originate or end outside of the Single European Payments Area
("SEPA") zone.
In anticipation of the upgraded payment gateway and fraud
prevention software in January, the merchant services team have
conducted a successful merchant acquisition campaign with the goal
of producing a more industry diverse sales pipeline. Together with
recent agreements signed with two Baltic and European acquiring
partners, resulting in successful test transactions from new
merchants, we are confident of a positive contribution to the group
during the first quarter of 2020.
Lottery Business
The number of Lottery lines played on a weekly basis is
approximately 30% higher than for November 2018. This growth
ensures the Lottery Business continues to be on target to make a
positive operating contribution to the Group for the second half of
the year to 31 January 2020.
Group
Working capital remains constrained, however the Board believes
the improving operating performance will alleviate the position
gradually. In addition, the Board is actively exploring options to
improve the Group's position before the ending of the current
financial year (31 January 2020).
Chief Executive Graeme Paton commented, "We now have a fully
functioning suite of GBP and EUR prepaid cards, proper IBANs in EUR
as well as GBP accounts for qualifying businesses with USD services
to follow shortly - all accessible through the Another portal - our
clients can send and receive money to and from virtually anywhere
as well as manage their cards, wherever they can connect to the
internet".
For further information, contact:
St. James House PLC
Roger Matthews
Website www.sjhplc.com 020 3655 5000
Allenby Capital Limited
(Nomad, Financial Adviser & Broker)
John Depasquale / Nick Harriss 020 3328 5656
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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