Gemalto NV's secure-transactions unit, which includes bank cards, generated $253 million in revenue during the first half of this year, up 1.4% from the year earlier, the French smart card vendor said Aug. 26.
The unit's profit from operations was $7.1 million, down 24.3%.
"In line with the first-quarter trend, the first semester was marked by strong revenue growth in countries migrating to EMV, notably in the Americas, while upgrades to contactless dual-interface payment cards continued to ramp up in Europe," the vendor said in its statement of results. "The favorable contribution from high-end contactless cards more than compensated the effect of lower activity in the United Kingdom."
The company anticipates growing demand from U.K. banks as they prepare for a return to normal card-renewal levels by yearend.
Overall, Gemalto reported first-half revenues of $1.07 billion, up 5%, and net profits of $80 million, down 7.4%.