HiPay announced on Thursday that it had continued to grow in the first quarter, with sales up by 5%, but had suffered from a basis of comparison described as 'demanding'.

The payment services provider said it had generated sales of 17.3 million euros in the first three months of the year, compared with 16.4 million a year earlier.

The volume of payments processed, meanwhile, rose by 3% to 2.2 billion euros.

In a press release, the French 'fintech' points out that the basis for comparison dating back to the first quarter of 2023 was particularly high, with growth rates of 10% and 13% for flows and sales respectively.

The Group reports particularly strong growth in digital markets and online video games, but slightly reduced growth in retail in France.

With regard to its outlook, HiPay is targeting growth of between 6% and 9%, driven by the continuation of trends observed in the first quarter and the launch of new customers.

The company also confirms that it expects operating and net profitability rates to be equal to or higher than those achieved in 2023.

Listed on the Paris Bourse, the share price fell by almost 5% on Thursday following this publication.

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