LONDON (Alliance News) - SafeCharge International Group Ltd on Wednesday said it expects at least 12% growth in revenue in 2019 as it experienced high client demand for its products in 2018.
The payments technology company said pretax profit improved by 3.8% to USD27.2 million in 2018 from USD26.2 million the year before.
Adjusted earnings before interest, tax, depreciation and amortisation increased by 11% to USD37.3 million from USD33.7 million the year prior, with the company continuing to generate significant free cash flow from its operations.
Revenue grew by 24% to USD138.5 million from USD111.7 million, driven by new customer wins and expanded relationships with existing clients.
SafeCharge declared a total dividend of 18.31 cents per share, up 8.4% from 16.89 cents paid the year before.
Looking ahead, the company is guiding for revenue in a range of USD155 million to USD165 million in 2019, and adjusted Ebitda between USD40 million and USD42 million. SafeCharge said the growth will be driven by continued increase in its existing client base and new customers.
"The year 2018 was another period of strong financial performance and continued growth," said Chief Executive David Avgi.
"During 2019 we will continue to invest in building our sales teams to accelerate our entry into new markets, as well as to invest further in innovative products to our customers," added Avgi.
SafeCharge shares were trading 4.0% lower on Wednesday at 285.125 pence each.
