Digital commerce enabler Network International said on Wednesday that overall trading during the first quarter was in line with expectations, against a comparative period in the prior year that was “significantly less impacted” by the Covid-19 pandemic.
Total revenues were up 1% in the quarter, with merchant solutions revenues down 3% year-on-year and issuer solutions revenues up 5%.
Chief executive Nandan Mer said: “Whilst lockdowns have eased and normal conditions have returned in several of our markets, the pandemic remains fluid and we are cognisant that our recovery from Covid-19 disruption may not always be straightforward.
“We continue to progress discussions around significant financial institution payment outsourcing mandates, and Saudi Arabia remains a key priority despite the challenges of temporary border closure. Our goal is unambiguous; to scale our presence across our markets, innovate to deliver market leading solutions for our customers, and accelerate our delivery. We have clear plans in place and I firmly believe that Network is poised for greater growth.”
As of 0915 BST, Network shares were down 0.024% at 413.60p.
