14th Jan 2015 08:53
LONDON (Alliance News) - Optimal Payments PLC Wednesday said it expects revenue and earnings before interest, tax, depreciation and amortisation (EBITDA) to be in line with market expectations for its last financial year.
In a statement, the payments company said it expected reported revenue for 2014 to rise to at least USD365 million from USD253.4 million, with EBITDA to increase to at least USD86 million from USD52.2 million.
Normalised pretax profit, which adjusts for costs relating to acquisitions or those deemed exceptional, as well as amortisation of acquired intangibles, share-based payments and foreign exchange, is expected to be materially ahead of market expectations, Optimal Payments said.
The company cited an effective tax rate which is lower than consensus as a result of historical tax losses and a mix of revenues weighted towards operations conducted in lower tax jurisdictions.
"We are excited about evolving opportunities associated with our principal membership status with Visa and MasterCard and are encouraged by the prospect of regulated online gambling in additional US States. Finally, we expect that our M&A strategy will continue to generate attractive opportunities for growth and diversification in the year ahead," Joel Leonoff, president and chief executive, said in a statement.
Optimal Payments shares were down 1.6% at 365.00 pence on Wednesday.
By Samuel Agini; [email protected]; @samuelagini
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
OPAY.L