Collect+ makes a loss, but revenues are up

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PayPoint has reported that Collect+, the Click and Collect and parcel returns business it co-owns with Yodel, saw an increase in revenues last year, but also posted a loss.

In a statement issued today (26 May) regarding the group’s preliminary results for the year ended 31 March, Chief Executive Dominic Taylor said that PayPoint has been in “long running discussions” with Yodel about the future structure of Collect+; and , in order to “encourage discussions”, PayPoint “temporarily agreed to allow Yodel to charge more for its carrier services to Collect+ and this has caused it to make a small loss”.

Collect+ reported a revenue for the year of around £49.6m, up from £46m.

PayPoint’s statement also noted: “Within the consumer send market, there continues to be substantial price competition and consequently the Collect+ management team has focussed on developing Click & Collect and returns.”