Paymark lifts profit, sales in 2017

Fri, 18 Aug 2017

By Sophie Boot Aug. 18 (BusinessDesk) - Paymark,the EFTPOS terminal provider owned by the four major banks, lifted earnings and sales in 2017, as its owners continue to search for a buyer. The electronic payments firm saw operating revenue up 7.8 percent to $73.8 million in the year ended March 31, 2017, outpacing a 2.9 percent rise in expenses. Net profit rose 7.5 percent to $21 million. The company is owned by ANZ Bank New Zealand, ASB Bank, BNZ Investments and Westpac NZ, which started a sales process in February 2016 but are yet to...

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