Planet Payment hit by economic climate and costs

Planet Payment, a provider of international payment processing and multi-currency processing services, admits first half income was offset by the challenging economic climate, resulting in a loss for the six month period.

Planet Payment, a provider of international payment processing and multi-currency processing services, admits first half income was offset by the challenging economic climate, resulting in a loss for the six month period.

Revenue increased from $19.9m to $21.8m, but the firm returned a net loss of $0.4m (2011 H1: $1.0m) following increases in operating costs from additions to technology and support personnel which were made to invest in the growth of the business and future launches into new markets.

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