LONDON, September 9, 2014 /PRNewswire/ --
SafeCharge (AIM: SCH), a leader in advanced payment technologies, today announces its maiden interim results for the six months ended 30 June 2014 following its successful IPO in April.
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Highlights
(1) Adjusted EBITDA and Adjusted Profit before tax are calculated after adding back certain non-cash charges and cash expenses relating to professional costs incurred in respect of the Company's Initial Public Offering and terminated projects. (See Consolidated Statement of Comprehensive Income.)
Operational highlights
Current trading and outlook
Trading since the Company's profit upgrade released on 30 June 2014 has continued to be strong and as a result the Directors are pleased to announce that both revenues and EBITDA for the full year to 31 December 2014 are expected to be materially ahead of current market expectations.
Roger Withers, Non-executive Chairman, said:
"I am delighted to report SafeCharge's maiden interim results following its successful fund raise and admission to AIM earlier this year. The first half of 2014 was a landmark period for the Group. We completed a successful, oversubscribed IPO that was strongly supported by blue chip institutional investment funds and operationally, the business performed strongly, exceeding management and market expectations. We gained a number of significant new clients and post the period end secured a major advance with the award of principal member status for merchant acquiring by VISA Europe. This significantly complements the MasterCard membership approved in 2013 and enhances the company's status as a leading global business in the expanding payment processing arena. Our growth is driven primarily by the growth of international internet penetration and the rapid development of e-commerce as a powerhouse in retail, financial services and currency trading platforms.
"As a demonstration of confidence in the Company, the Board is pleased to announce the payment of a maiden interim dividend of US cents 2.88 per share which will be payable on 17 October 2014.
"SafeCharge is well placed to capitalise on both its position in the payments industry and strong balance sheet. Our strong momentum and clearly identified growth opportunities mean that the Board looks to the future with strong confidence. SafeCharge is well positioned for sustained growth in a highly dynamic and rapidly evolving marketplace."
For a full report of our results please visit our website: http://otp.investis.com/clients/uk/safecharge/rns/regulatory-story.aspx?cid=811&newsid=443832
About SafeCharge
SafeCharge International Group Limited is a global provider of payments service, risk management and IT solutions for online 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 regulated as a Payment Institution by the Central Bank of Cyprus, license no. 115.1.2.15, under EU directive. SafeCharge Limited has principal membership status for merchant acquiring by VISA Europe and MasterCard Europe. The SafeCharge group has operations in the UK, Cyprus, Bulgaria, Israel, Germany and Austria. http://www.safecharge.com
For more information
SafeCharge International Group Limited
Tim Mickley
http://www.safecharge.com
+44-(0)-20-3051-3031
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