Net1’s revenue dips due to global chip shortage
10 February 2022 - 07:49
Net1 UEPS, a payment processor and bill payment platform, says the global semiconductor chip shortage put pressure on its revenue in its second quarter to end-December, though it is making progress with cost-cutting efforts.
Group revenue fell 4% to $31.1m (R473m) to end-December, Net1 said on Thursday, but its operating loss improved 38% to $9.4m, partly due to the closure of its loss-making International Payments Group (IPG) business in 2021...
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