 surged over 25 percent on Friday, after a positive trading update indicated increasing "momentum" for the company.){kind=link}
Shares in lottery administrator Boxhill Technologies (LON:BOX) surged over 25 percent on Friday, after a positive trading update indicated increasing “momentum” for the company.
The company, who deal in lottery administration as well as payment processing products, started issuing Virtual IBANs for their EmexGO business, meaning that its customers can supply their account information in standardised international bank account format.
This led to revenue from EmexGo in the first half of the year exceeding last year’s total by July, with the company saying it anticipates “card processing revenues to grow as in previous years and expect to see growth and momentum return to above H12016 levels through the second half of the year.”
“Further to this we have launched a high value transfer service, facilitating transactions in excess of EUR10,000,000 for corporate and individual customers”, the company said.
Investors took heart from the positive trading momentum, sending shares up 27 percent to 0.127 by 0933GMT.