17th Nov 2014 07:00
Optimal Payments Plc
Trading Statement
LONDON (November 17, 2014) -- Optimal Payments Plc ("Optimal Payments" or the "Company") is pleased to report that the strong trading reported in the first half of 2014 has continued into the second half across all markets. The Company's NETELLER and NETBANX businesses have both delivered good revenue growth and profitability in the year to date. As a result of the trading in the year to date, and in advance of the traditionally strong, seasonal trading in December, the Company currently expects its financial results for 2014 to be at least in line with market expectations.
The Company has achieved a number of significant milestones in 2014: the launch of its new NETELLER and NET+ offerings in the US, positioning the Company well for the re-opening US gaming market; the attainment of Principal Membership status with Visa and MasterCard in Europe strengthening its NETBANX offering; and the successful completion in July of the Meritus and GMA acquisitions to expand its US presence. Following the acquisitions of Meritus and GMA, the Company's largest merchant now represents approximately 25% of the Company's monthly revenues and this percentage is expected to continue to reduce. These achievements have all been important strategic goals as we continue to deliver on our stated objectives.
Commenting on this announcement Joel Leonoff, President & CEO, said: "We are finishing 2014 stronger and more diversified and, as a result, increasingly confident in the outlook for the accretive organic and inorganic growth opportunities available to us. I, and the rest of the management team, remain absolutely committed to the success of Optimal Payments and aim to continue to deliver value to our shareholders. In relation to the loan and pledge agreement I entered into with Equities First Holdings, LLC, I can confirm that I entered into the agreement outside of a close period, the loan was taken for the purposes of liquidity and it is my absolute intention to repay the loan when it falls due."
About Optimal Payments Plc
Optimal Payments is a global provider of online payment solutions, trusted by businesses and consumers in over 200 countries and territories to move and manage billions of dollars each year. Merchants use the NETBANX® platform and services to simplify how they accept credit and debit card, direct-from-bank, and alternative and local payments; and the NETELLER® service to increase revenues and capture new customers. Consumers use the multilingual and multicurrency NETELLER and Net+® Card stored-value offering to make secure and convenient payments. In July 2014, Optimal Payments acquired Meritus Payment Solutions and GMA as part of the company's commitment to strengthen its presence in the US market. Optimal Payments Plc is quoted on the London Stock Exchange's AIM, with a ticker symbol of OPAY. Subsidiary company Optimal Payments Ltd is authorised and regulated as an e-money issuer by the UK's Financial Conduct Authority (FRN: 900015).
For more information on Optimal Payments visit www.optimalpayments.com or subscribe at http://www.optimalpayments.com/media/email-alerts.
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For further information contact:
Head of Investor Relations
Jessica Stalley
Optimal Payments Plc
+ 44 207 182 1707
Canaccord Genuity Limited (Nominated Adviser & Broker)
Simon Bridges / Cameron Duncan
Tel: +44 (0) 20 7523 8000
Media Contacts - United Kingdom:
Simon Hudson/Andrew Dunn/Simon Fluendy
Tavistock Communications
+44 20 7920 3150
Media Contacts - Canada:
Erin Cudmore
Zenergy Communications
+1 416-591-5461
Media Contacts - United States:
Richard Anderson/Emily Simmons
Feintuch Communications
+1 718-986-1596 / +1 212-808-4904
Related Shares:
Paysafe Group