Dubai’s Network Intl first-half revenue up a forecast-beating 16.5 pct

Dubai-based payments processor Network International on Wednesday reported a 16.5 percent rise in first-half revenue, exceeding analyst expectations as its merchant solutions business and main markets continued to recover from the pandemic.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) grew 17.2 percent from a year earlier to $60.4 million in the period ended June 30 on revenue of $156.4 million, Network International said in a regulatory filing on the London Stock Exchange.

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The results were supported by stronger than expected revenue growth in its merchant solutions business, which provides services and solutions that allow merchants to accept card or digital payments from consumers.

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