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.