21st May 2015 08:11
LONDON (Alliance News) - Online payments company Optimal Payments PLC on Thursday said it is trading in line with its expectations so far in 2015 and said it is on track to complete the reverse takeover of Skrill Ltd.
The group said revenue and earnings before interest, taxation, depreciation and amortisation in the year to date are in line with its expectations, notwithstanding any impact from the depreciation of the euro.
The company said the consolidation of the Meritus and GMA businesses acquired in 2014 have progressed well and added the good performance seen in its NETELLER and NETBANX businesses at the end of 2014 has continued this year. The company is also close to completing the EUR1.1 billion reverse takeover of payments company Skrill and expects the deal to close in the third quarter.
"We were delighted with the response from all of our shareholders to the acquisition of Skrill which is a real game changer for us. The enlarged Optimal Payments, on completion, will become a leading player in the markets we serve and create additional opportunities for further profitable growth," said Joel Leonoff, Optimal Payments' president and chief executive.
"It will also deliver benefits to our shareholders in the shape of accretive earnings from next year, enhanced liquidity from the intended move to the main market and, in due course, inclusion in the FTSE 250," Leonoff added.
Optimal Payments shares were up 3.9% to 275.679 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
OPAY.L