News

Cashbox installs 1,000th ATM

May 31, 2006

WINCHESTER, England - Independent ATM deployer Cashbox PLC installed its 1,000th ATM, following an off-premise pub estate placement for Scottish & Newcastle Pub Enterprises. The leased pub-management business owned by Scottish & Newcastle PLC manages an estate of more than 1,600 pubs throughout the United Kingdom.

"With the 1,000th ATM now in situ, we are delighted to confirm that our installation program remains ahead of schedule and that the company has a significant pipeline of future ATM installations," Cashbox chief executive Carl Thomas said.

According to a news release, Cashbox has a contract with S&N Pub Enterprises to install ATMs under its new placement model, which the company introduced earlier this year. Under the new model, Cashbox places ATMs at merchant locations where merchants are tasked with replenishing their own vault cash, eliminating the need for third-party cash-handling costs. Using the placement model, Cashbox is able to profitably place ATMs in lower footfall areas.

"The free placement ATM is a real benefit for lessees who wish to offer their customers a cash facility on site," Kay Sibbald, S&N Pub's franchise manager, said.

And the new model has been profitable, Thomas said. Key performance indicators show that 98 percent of Cashbox's total ATM estate and 91.4 percent of the ATMs on its placement model are turning profits.

"The placement estate is trading profitably and making a positive contribution to our gross profit account line, and as such we view the future with considerable optimism."

Read also, U.K.'s Cashbox shows promise after public offering.