HiPay: growth slows in first quarter

(CercleFinance.com) - HiPay was up on the Paris Bourse on Tuesday, following the publication of 10.
5% sales growth for the first half of the year.

The payment technology specialist reports that growth in the total volume of payments processed was nevertheless limited to 1.3% over the first six months of the year, affected by a "challenging" macroeconomic context.

The fintech company notes that the slowdown in inflation has not helped to boost household consumption, given that most of its business flows are still linked to consumer purchases.

Its first-half growth is essentially due to favorable mix effects and the strength of the online video game market, combined with the operational launches of new payment methods.

For the full 2024 financial year, the Group states that its current projections point to sales growth of between 6% and 9%, driven by the continuation of trends observed in the first half and the launch of new customers.

The company also expects both its operating and net profitability to reach a level equal to or higher than that of 2023 (in terms of percentage of sales).

Listed on the Paris Bourse, the share was up 1.6% at midday on Tuesday following this publication, bringing its gains since the start of the year to around 11%.

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