Market contemplates Universe results

The price of shares in AIM-listed point of sale systems provider Universe (LON:UNG) climbed 10% to 5.50p (as of 15:30 GMT) after it announced a 60 basis point increase in margins along with improved revenues for the year ended 31st December.

Chairman Andrew Blazye commented: “We have had another profitable year, with continued successful implementation of our current product range. As an example, our new payment terminal Gempay 3, now has an installed base of 2,930 terminals.

It was also a year of new customer acquisitions. For example, the success of the Gempay 3 payment terminal and our payment processing services in the UK resulted in Universe winning Euro Garages as a new customer. This roll out, involving over 370 forecourts in the UK, is near completion. In total this customer now has 540 Gempay 3 terminals installed and payment transaction volumes in excess of 3 million per month passing through our payment switch. Euro Garages has a well-deserved, global reputation for innovation and we are delighted to be making a contribution to their success.

During the year, we have secured important contract extensions from existing customers, won new customers and completed a number of strategic partnerships. The Group remains profitable and cash generative, with a high level of recurring revenues and strong cash reserves. We continue to invest in the business with key hires and significant product innovation, which will have clear benefits over the longer term“.