27th Jan 2006 07:01
NETeller PLC27 January 2006 PRE-CLOSE TRADING UPDATE NETELLER Plc, a leading online money transfer service provider, today issued thefollowing update. This is made prior to the Company entering its close periodahead of its preliminary results announcement for the 12 months ended 31December 2005, scheduled for 28 March 2006. Highlights • Strong fourth quarter in terms of customer receipts and new customer sign ups • Average daily receipts from customers in Q4 2005: US $4.18m, up from US $3.64m in Q3 2005 • Average daily new customer sign ups for Q4 2005: 3,197, up from 3,085 in Q3 2005 • Total customers at 31 December 2005: 2,320,670 • Revenue for full year expected to be slightly ahead of consensus market expectations • Strong current trading to date in first quarter 2006 • Appointment of Ron Martin as President and Chief Executive Officer effective 1 January 2006 Ron Martin, President and Chief Executive Officer, commented "NETELLER hascontinued to show excellent growth across all areas of the business in thefourth quarter and the full year results will demonstrate the continuingstrength of the Company. Since joining NETELLER, I have been impressed by thedepth and experience of our management team and employees. I look forward tocapitalising on the many opportunities available to us during 2006 and beyond.The Board is excited about the Company's prospects for 2006 and expectsconsiderable progress to be made during the next 12 months." Enquiries: NETELLER Plc 01624 698 702Ron Martin, President and Chief Executive OfficerEric Hughes, Chief Financial OfficerAndrew Gilchrist, Vice President - Communications 01293 897 515 Citigate Dewe Rogerson 0207 638 9571Sarah Gestetner/Seb Hoyle/George Cazenove Operational Highlights Customer Receipts - Average daily receipts from customers was approximately US $4.18 million during Q4 2005 (Q4 2004: US $2.35 million) - representing an increase of 78 %. - Q4 average daily receipts from customers was up by 15 % on the Q3 2005 average daily receipts of US $3.64 million. - Average daily receipts from customers for the full year 2005 was US $3.44 million, up by 90 % on average daily receipts for 2004 of US $1.81 million. Total Customers - As at 31 December 2005, NETELLER had 2,320,670 signed-up customers, an increase of 1,069,318 or 86 % from 1,251,031 since 31 December 2004. New Customers - Average daily sign-ups of new customers was 3,197 during Q4 2005 (Q4 2004: 2,072) - representing an increase of 54 %. - Average daily sign-ups was 2,930 for the year to 31 December 2005 compared to 1,821 for 2004 - representing an increase of 61 %. Current trading and outlook The fourth quarter of 2005 has been very strong in terms of both customerreceipts and new customer sign-ups. As a result, the Company expects thatrevenue for the full year is likely to be slightly ahead of consensus marketexpectations. The Board remains confident about the prospects for the Group in 2006. With therecent strengthening of the management team, and the appointment of Ron Martinas President and Chief Executive Officer, the Company is well placed to takeadvantage of the continuing growth in its key markets. In addition, the 2006FIFA World Cup is likely to provide additional revenue and customer acquisitionopportunities. Panmure Gordon & Co Limited will cease to act as the Company's joint stockbrokerwith effect from 25 February 2006 with Canaccord Adams Limited acting asnominated adviser and sole stockbroker going forward. NETELLER expects toannounce its preliminary results for the year ended 31 December 2005 on Tuesday28 March 2006. Notes to Editors The NETELLER Group The NETELLER Group operates an online money transfer service that uses andextends the existing international banking structure to provide a secure meansof transferring funds worldwide. A NETELLER account acts as a virtual walletthat enables customers (individuals who open NETELLER accounts) to load,withdraw and transfer funds by purchasing e-money. E-money can be instantlytransferred to or from any merchant (or internet site) that supports NETELLER'sonline payments system for goods and services. Additionally, funds can betransferred between individual customers in peer-to-peer exchanges. NETELLERhas over 2.3 million customers and more than 1,700 supporting merchants, makingthe Company a leader in online payment services. NETELLER UK Limited isauthorised by the Financial Services Authority (FSA) to operate as a regulatede-money issuer. Further information may be obtained from the NETELLER's websiteat www.neteller.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Paysafe Group