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Net1 trims loss, share price rockets


Net1 trims loss, share price rockets
News24
07 May 2021, 21:42 GMT+10
The payment solutions provider Net1 UEPS Technologies is still not back in the black, but reported a smaller loss in the three months to end-March compared to the same period last year.
This saw its share price rocket by 13% to close to close to R87 on Friday morning.
The company reported a net loss of $6.2 million in the quarter, compared to a loss of almost $35 million in the comparable quarter in 2020.
Its revenue declined by 17% from the previous quarter to $28.8 million, due in part to fewer prepaid airtime and hardware sales, the company says. ....

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Net 1 starts to turn around SA operations


May 7, 2021
Net 1 UEPS Technologies has reported an increase of approximately 27 000 EasyPay Everywhere (EPE) account holders, accouncing its third quarter results.
During the period, the group saw a non-cash increase of $10,8-million, before tax effect, in the fair value of investment in MobiKwik. It also sold its entire interest in Bank Frick for $30-milliom.
Net 1 reduced its IPG operating loss from $3,2-million in Q2, 2021, to $1,2-million in Q3, 2021, excluding the impact of the $3,6-million once-off payment to terminate all arrangements with Bank Frick and settle all related liabilities, of which $1,4-million and $2,2-million was expensed during the second and third quarter of 2021, respectively. ....

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