25th May 2016 13:14
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.
Later Wednesday, the company said shareholders at its annual general meeting voted against its remuneration report for 2015 by 52% to 48%.
The company's remuneration policy was approved, but Paysafe said it intends to continue talking to shareholders over "pay and wider governance matters" in 2016. "A number of shareholders have communicated specific areas of concern to the company, and we will seek to engage on these issues," Paysafe said.
Paysafe said revenue for 2016 is now expected to be USD950 million to USD970 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.
Shares in Paysafe were up 6.7% to 415.80 pence on Wednesday, one of the best performers in the FTSE 250.
By Sam Unsted; [email protected]; @SamUAtAlliance
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