Payzone Warns About Full-Year Loss

October 20, 2008, 1:00 a.m. EDT 1 Min Read

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Payzone PLC, an Ireland-based payment-network operator, said Monday it expects to post a 39.2 million euros (US$52.2 million) pretax loss for the fiscal year ended 30 Sept. 2008 when the company publishes is full-year financial results in December. Payzone formed last year with the merger of Cardpoint Plc, a UK-based ATM operator, and Alphyra Holdings Ltd., an Ireland-based processor and payments-services firm. After the merger, the company underwent a leadership battle. In June, Payzone reported a pretax loss of nearly 166.8 million euros for the six months ended 31 March. Company officials could not be reached for comment about the new projected loss, reported in a Payzone trading update. Earlier this month, the company said it is selling its operations in France, Italy and Spain to France-based LCom in a deal valued at 20 million euros. Payzone expects to complete the deal by Friday.

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