Mi-Pay Group plc announced trading results for the year ended 31 December 2017. The company processed £95 million in payment transactions against £83 million a year increasing Transaction Services Revenues by £0.1 million to £2.7 million against £2.6 million a year ago.

The company's total revenue for the year 2017, expected to be £3.1 million against £3.3 million a year ago. The company continues to focus on driving long-term transaction based revenue growth from new and existing clients. In the last quarter of 2017, the company delivered a new direct fraud management service in Europe and new payment services in the Asia Pacific Region which the company expects to help to drive incremental revenues in 2018. This was achieved whilst maintaining high payment success rates and low fraud levels which is expected to deliver gross margins during the year of £2.0 million against £2.1 million a year ago.

The company expects to continue to see strong transaction growth, maintain strong gross margins and, when aligned with reduced cost base, the company continues to expect profitability for the year ending 31 December 2018 to be in line with market expectations.