LONDON, September 13, 2016 /PRNewswire/ --
SafeCharge (AIM: SCH), a leader in advanced payment technologies, announces its interim results for the six months ended 30 June 2016.
H1 2016 H1 2015 Change US$ m US$ m % Consolidated Revenues 52.2 49.5 5 Underlying core Processing Revenues 49.2 44.9 10 Consolidated Gross Profit 31.6 28.5 11 Consolidated Adjusted EBITDA 16.8 15.2 10 Cash flows from operations 16.5 13.7 20 Reported profit after tax 15.2 12.4 23 Cash and cash equivalents 128.1 115.7 11 Earnings per share (diluted) 9.88 US$c 8.03 US$c 23 Recommended interim dividend 7.0 US$c 4.0 US$c 75
 Underlying core Processing Revenues excludes XTCommerce, CreditGuard and SafeCharge Card Services
Adjusted EBITDA is calculated after adding back certain non-cash charges and cash expenses relating to professional costs incurred in respect of acquisitions, restructuring costs, contingent remuneration and share-based payments charges (See Consolidated Statement of Comprehensive Income)
Cash flows from operations before working capital adjustments and tax
Current trading and outlook
The first half of 2016 was another period of strong performance and delivery for the Group. Growth in the second half is expected to be more moderate than the first. Considering the quality of clients both recently launched and within the current pipeline, and the success of SafeCharge Acquiring, the Directors are confident of growth prospects into 2017 and beyond.
H1 Operational highlights
- Acquiring services performing ahead of expectations, with more than 10% of the Group's transaction volumes processed through its own acquiring platform in June
- Significant new customer wins, PaddyPower Betfair, Sun Bingo and SBTech now live, with a strong pipeline
- Progress in new focus sectors; airlines, retail and games
- Processing volumes, core processing business, of US$4 billion (H1 2015: US$ 3.3 billion)
- Successful divestment of FinTech AG holding
- Recognition of technology leadership winning a number of prestigious awards including the 'Payments Company of Year' and Fraud and Compliance' categories of the eGaming Review awards, and "Payments Solution Provider Company of the Year" at the IGA awards
David Avgi, CEO of SafeCharge, said:
"The operational momentum built over the last two years has continued into the first half of 2016. This has enabled SafeCharge to deliver further growth, reporting revenues of US$52.2million (H1 2015 US$ 49.5 million) and Adjusted EBITDA of US$16.8 million (H1 2015: US$15.2 million).
The first half of 2016 was a period of further success and growth for the Group. I am proud to report that several of our latest innovations in technology based payment solutions have been successfully rolled out to serve our clients.
Whilst we continue to advance in our core verticals, the Group has made exciting progress in entering our new target sectors and over coming months we will focus and invest further to build our sales teams in order to further accelerate entry into these sectors."
For a full report of our results please visit our website: http://investors.safecharge.com/regulatory-news.aspx
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
Forward looking statements
This announcement includes statements that are, or may be deemed to be, "forward-looking statements". By their nature, forward-looking statements involve risk and uncertainty since they relate to future events and circumstances. Actual results may, and often do, differ materially from any forward-looking statements.
Any forward-looking statements in this announcement reflect SafeCharge's view with respect to future events as at the date of this announcement. Save as required by law or by the AIM Rules for Companies, SafeCharge undertakes no obligation to publicly revise any forward-looking statements in this announcement following any change in its expectations or to reflect events or circumstances after the date of this announcement.
SafeCharge International Group Limited is a global provider of payments services, technologies and risk management solutions for online and mobile businesses. The SafeCharge group has a diversified, blue chip client base and is a trusted payment partner for customers from various e-commerce verticals. SafeCharge has been Payment Card Industry Data Security Standard ("PCI-DSS") Level 1 certified since 2007 and is listed on the London Stock Exchange AIM market (LSE: SCH). The Company's wholly owned subsidiary, SafeCharge Limited, is an authorized Electronic Money Institution regulated by the Central Bank of Cyprus and a principal member of MasterCard Europe and VISA Europe. The SafeCharge group has operations in the UK, Cyprus, Bulgaria, Israel, Germany, Austria and Ireland.
For more information
SafeCharge International Group Limited: +44(0)20-3772-2500
David Avgi, Chief Executive Officer
Tim Mickley, Chief Financial Officer
c/o Bell Pottinger
Shore Capital: +44(0)20-7408-4090
Bell Pottinger: +44(0)20-3772-2500