25th May 2016 07:08
LONDON (Alliance News) - Online payments company Paysafe Group PLC on Wednesday said its full year revenue and earnings are set to outpace market expectations as the good momentum seen in the early months of 2016 has continued.
Paysafe said revenue for 2016 is now expected to be USD950 million to USD670 million, ahead of the current market consensus of USD911 million. Adjusted earnings before interest, taxation, depreciation and amortisation, stripping out one-offs, are also set to beat the market view at USD270 million to USD276 million, compared to the current market forecast of USD260 million.
The group said the good momentum it saw in the first few months of the year has continued and said the integration of Skrill, acquired in 2015, is on track to be substantially complete by the third quarter of 2016.
Paysafe will publish interim results on August 10.
Paysafe opened up 6.9% to 416.5 pence early Wednesday, one of the best performers in the FTSE 250.
By Sam Unsted; [email protected]; @SamUAtAlliance
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