Transact posts strong profits ahead of float

The platform's post-tax profits for the 12-months to 30 September 2009 were in excess of £10m, compared to about £7m for 2008. The dividend for shareholders increased from 90p to £1.50. "Our profit and dividend certainly bodes well for a flotation," says head of marketing Malcolm Murray. He adds no timescale has been set for the listing, with the move dependent on hiring a non-executive director. Murray also says the platform will look to cut charges - but stressed that such a move is unrelated to its plans to list and is a continuation of existing practice. "What we are saying is ...