Harvest Technology plc reported lower profits for the year ended 31st December 2025, as pricing pressure in its payment processing arm offset strong growth in its retail and IT solutions business.
The group posted revenue of €18.2 million, down 8 per cent from €19.8 million in 2024, while profit before tax fell to €1.6 million and profit after tax declined by 6 per cent to €1 million.
The company attributed the weaker performance primarily to reduced processing fees within its payment gateway segment, despite an increase in transaction volumes.
Chairman Simon Montanaro described 2025 as “a challenging year… characterised by a demanding operating environment and pricing pressure within the payment processing segment,” noting that improved performance in retail and IT solutions helped partially offset these headwinds.
Apco emerges as key growth driver
At subsidiary level, Apco Limited, the Group’s automation, fire, security and building management systems business, delivered a standout performance, marking its first full year as a restructured entity. Revenue rose by 33 per cent to €4.8 million, while profit before tax surged significantly, supported by the transfer of the automation hardware business and the execution of a major contract.
The Chairman said the performance “validates the strategic rationale for the acquisition” and positions Apco as a core contributor to future growth.
PTL Limited, the group’s IT services arm, recorded lower revenue following the transfer of the automation hardware business but improved profitability through cost rationalisation and operational efficiencies.
Apcopay hit by margin compression
Meanwhile, Apcopay Limited continued to face a highly competitive landscape. Although transaction volumes increased to €1.4 billion, revenues declined by 16 per cent to €3.7 million as processing fees dropped by 10 per cent.
Management indicated that the focus for 2026 will be on strengthening infrastructure, improving product functionality and completing the migration to a new payment orchestration platform, while also targeting higher volumes and better cost efficiency.
Solid balance sheet and dividends maintained
Despite the decline in profitability, Harvest maintained a strong financial position, ending the year with €2 million in cash and no debt. The Group also continued to generate stable gross profit and cash flows.
The board has proposed a final gross dividend of €0.015 per share, bringing the total dividend for 2025 to €0.084 per share.
Shareholders on the register as at 24 April 2026 will be eligible, with payment expected around 20 May.
Looking ahead, the company reported stronger performance in its retail and IT solutions segment in the first quarter of 2026, while the payment processing business remains under pressure from pricing competition.
The board said it remains “cautiously optimistic” for 2026, expecting measured growth driven by operational efficiencies, client diversification and continued investment in its core technology capabilities.
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