Net1 gets fourth-quarter bump from easing Covid-19 restrictions

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Net1 gets fourth-quarter bump from easing Covid-19 restrictions
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Financial services group’s revenue falls almost a fifth in year to end-June

Financial services and technology group Net1 UEPS says it saw an encouraging pick up in activity in its fourth quarter ending June as SA’s Covid-19 restrictions eased, but that followed a tough year.

Revenue declined 9% to $130.8m in the year to end-June, falling almost a fifth in rand terms, with the group saying Covid-19 had a limited effect in its fourth quarter when it returned to profit...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

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