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Year End Trading Update

13th Jan 2014 07:00

RNS Number : 4334X
Optimal Payments PLC
13 January 2014
 



 

 

13 January 2014

 

Optimal Payments Plc - Year End Trading Update

 

Strong performance continues in second half of 2013

 

Optimal Payments Plc (LSE AIM: OPAY) (the "Group"), a leading international online payments provider, announces its trading update for the year ended 31 December 2013 ahead of its full year results on 31 March 2014.

 

Highlights

 

· Revenue and EBITDA for 2013 expected to be ahead of market expectations, following continuedstrong performance in the second half of 2013 from both NETELLER and NETBANX.

· NETELLER eWallet initiatives continued to drive underlying growth in customer metrics and revenue insecond half.

· Strong performance by NETBANX straight-through-processing division, particularly in Asia, including some second half seasonality.

· Increased costs in H2 as a result of investment in our US gaming offering and increase in headcount to drive future growth.

· Strategic initiatives progressing well:

· Launch of US on-line payment solution for US regulated on-line gaming market. First US gamingtransactions processed in H2 2013; however, the timing and quantum of increased US revenuesremains uncertain.

· Principal Membership with Visa Europe and MasterCard Europe achieved enabling OptimalPayments to offer acquiring to merchants in the European Union from H2 2014.

· Continued focus on identifying possible M&A candidates and pursuing potential acquisitions.

 

The Group now expects that reported revenue for the full year should not be less than $245.0 million (H1:$118.4 million) while reported EBITDA should not be less than $51.5 million (H1: $25.2 million).

 

Commenting on today's trading update, Joel Leonoff, President & CEO, said:"2013 has been an exceptional year for the Group with substantial growth in revenues and in particular EBITDA which evidences the strength of our operationally geared business model.

 

"We believe that the ongoing investment we are making in expanded infrastructure and US on-line gaming initiatives will help to drive sustained future growth in 2014, 2015 and beyond." 

  

 

# # #

 

 

For further information contact:

 

Optimal Payments Plc

Jessica Stalley Head of Investor Relations: +44 (0) 207 182 1707 [email protected]

 

Canaccord Genuity

(Nominated Adviser to Optimal Payments): + 44 (0) 20 7523 8000

Simon Bridges / Cameron Duncan

 

Citigate Dewe Rogerson

(PR adviser to Optimal Payments): + 44 (0) 20 7638 9571

Caroline Merrell / Nicola Swift / Priscilla Garcia

[email protected]

 

 

 

About Optimal Payments Plc

 

Optimal Payments is a global provider of online payment solutions. Trusted by businesses and consumers in over 200 countries to move and manage billions of dollars each year, merchants use the NETBANX® processing service to simplify how they accept and settle credit card, direct-from-bank, and cash payments; and the NETELLER® payment service to increase margins, capture new customers and increase their lifetime value. Being an independent provider has allowed the company to support tens-of-thousands of merchants around the globe across a wide range of industries. Optimal Payments Plc is quoted on the London Stock Exchange's AIM market, 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 www.optimalpayments.com/feed or follow us on Twitter@optimalpayments

.

 

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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