SafeCharge expects to beat 2014 consensus
Payments firm now predicts 2014 EBITDA to be "at least $24.5m" following strong fourth quarter
Payments provider SafeCharge said it expects to exceed market expectations for 2014 following strong trading in Q4.
In a trading update issued this morning, SafeCharge said adjusted EBITDA for the 12-month period would be at least $24.5m (£16.2m).
“December was an extremely strong month for the company,” the company said in a statement. “This momentum has continued into January and the directors look forward with confidence for the 2015 financial year.”
The payments provider also confirmed it had completed the acquisitions of CreditGuard and 3V Transaction Services, revealed in December last year, with the new additions expected to expand SafeCharge’s product offering and “accelerate entry into new markets”.
The 3V acquisition is to power a move into the pre-paid credit card business and form a new issuing division within the country, a deal which SafeCharge CEO David Avgi said was a “milestone in the execution of SafeCharge’s strategic plan”.
SafeCharge, part-owned by Playtech founder Teddy Sagi, floated on London’s Alternative Investment Market in March last year and has since signed contracts with egaming operators including Ladbrokes and Rank Group.
SafeCharge’s share price was up 5.5p to 250.5p after early morning trading.