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Thursday 13 September 2018

SafeCharge strengthens

LogoHalf year results out today from AIM-listed SafeCharge (a provider of payment processing services, technology and risk management services for online and mobile businesses) show the firm building on the solid performance delivered in FY 2017 (see here). Revenue for the six months ended 30th June grew by 26% yoy to $66.8m. Gross profit increased by 20% reaching £33.6m and adjusted EBITDA was $18m was up 15%. Margins eased back from 29.4% to 27% as the company continued to invest in not only its infrastructure and processing technologies, but also strengthening is sales team.

On the operational front, processed volume increased by 59% to $6.7b with the value of transactions processed through its own acquiring platform growing from 19% to 27% over the same period last year. H118 also saw the launch of a number of new customers including the global ride sharing company Gett, the online retail platform The Level Group and the online ecommerce platform Global-e.

SafeCharge senior management painted an upbeat picture of the outlook for the remainder of 2018 and indicated that full revenue should reach the top-end of market expectations of around $130m. On the current business trajectory, sales of this level would seem eminently achievable.

Posted by Duncan Aitchison at '09:58' - Tagged: results   payments  

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