LONDON, January 21, 2016 /PRNewswire/ --
SafeCharge (AIM: SCH), the global provider of payments services, technologies and risk management solutions for online and mobile businesses, provides the following trading update ahead of its 2015 full year results, which are expected to be announced on the 10th March 2016.
Trading in the fourth quarter of 2015 continued to be strong. As a result, the Company expects that Adjusted EBITDA* for the full year will be in line with market expectations of approximately USD31million. December was a further strong month and this momentum has continued into January.
The Company is also pleased to announce that it has a strong sales pipeline and has recently signed a number of significant agreements with new customers. These new customers include two major sports betting operators, a tier 1 FX operator and the Group's first major Airline client. These new customers are expected to go-live on the SafeCharge platform in the first half of 2016. The Company will make further announcements in due course.
With robust current trading, a strong pipeline and new clients set to join the platform, the Directors look forward with confidence for the 2016 financial year.
*Adjusted EBITDA is calculated after adding back certain non-cash charges and cash expenses including professional costs in relation to acquisitions, restructuring costs and terminated projects.
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.
SafeCharge International Group Limited