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Alphyra has announced a marginal fall in revenues for the first half of 2002, with improved results overall due to reduced losses in its European business.
The company attributed the lack of growth to a lower than expected uptake of electronic mobile top-up services in the UK, but predicted that the uptake would improve over the next half year.
The company has also announced new business deals with Vodafone D2 in Germany, Ben and Telfort in the Netherlands and Telejack in Sweden. The company also has started marketing debit and credit card processing services with Royal Bank of Scotland. Finally, the Irish firm announced that it has taken a 49 percent share in a joint venture called Oryx in Jordan, which will provide multi-function electronic payment infrastructure.
"We've made good progress in the last six months; in both pursuing the development of our existing European markets and in creating new opportunities for the future," said John McDonnell, chairman of Alphyra. "It is imperative that we maintain that development momentum whilst continuing to deliver real value for our customers."
Alphyra provides electronic terminals that are primarily used to provide mobile phone credit, but are also used to sell lottery tickets and pay utility bills. The business, which was previously known as ITG, had also been involved in providing voice and data telecom services, but has sold off all but its payphone business.
The company had turnover of EUR19.8 million, marginally down from EUR20 million for the previous six months. Group earning before interest tax depreciation and amortisation (EBITDA) increased by more than 50 percent to EUR3 million during the half year, from EUR2.1 million in the previous six months. However the improved EBITDA figure is mostly due to the performance of the electronic transaction group, the company said, whose EBITDA was at EUR2.2 million, up from EUR0.5 million. The payphones group reported EBITDA of EUR0.8 million compared to earnings of EUR1.6 million a year ago.
Group operating losses came to EUR3.1 million, or EUR0.084 a share, in the first half of the year, compared with a loss of EUR6.4 million , or EUR0.023, in the six months ended 31 October. Alphyra has changed its fiscal year to coincide with the financial year.
Worldwide Alphyra employs around 450 with 150 of its workforce located in Ireland.
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