Worldpay’s first-half profit beats estimates as it cuts costs

Payments processor ’s underlying earnings rise 19 per cent to £217.9 million in first half

Worldpay Group’s earnings boost was driven by growth all its businesses and tightening of costs at its UK unit.

Tue Aug 09 2016 - 09:03

British payments processor Worldpay Group’s first-half underlying earnings beat analyst estimates, driven by strong growth across all its businesses and tightening of costs at its UK unit.

The company, which had the biggest flotation on the London Stock Exchange last year, said underlying earnings before interest, taxes, depreciation and amortisation rose 19 per cent to £217.9 million (€255.3 million) for the six months ended June 30th.

Analysts had expected underlying earnings of £208.8 million, according to Thomson Reuters. – (Reuters)