16 May 2005
Cardpoint has revealed that a switch of HBOS machines to charging ATMs has taken longer than planned and is now affecting business.
The company is one of the largest independent ATM providers in the UK and has seen shares drop as a new £75 million deal including more than 800 HBOS ATMs has taken longer than expected.
It is hoped 275 machines will be converted by the end of 2005 despite the fact there have been delays during the first half of the year.
Chief executive, Mark Mills, told This is Money: "Additional time has been required to complete the complex transition from free machines to highly profitable charging machines owing to the nature of some retailer agreements and due to a specific supplier issue."
Cardpoint now operates 2,800 machines in stores and at petrol stations, railways stations and leisure centres.
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