LONDON (Alliance News) - SafeCharge International Group Ltd saw its shares rise early Tuesday after it reported strong growth in 2014 profit as new customer wins helped drive up revenue 78%, and it said the strong momentum has continued into 2015.
The mobile payments and technology company reported a pretax profit of USD16.3 million, up from just USD436,000 in 2013, as revenue jumped to USD76.9 million, from USD43.2 million. Its closely-watched earnings before interest, tax, depreciation and amortisation, excluding the cost of last April's initial public offering, acquisition costs and some other items, rose to USD24.7 million, from USD11.3 million.
Safecharge said strong organic growth was driven by significant new customer wins, including sports betting operator Ladbrokes PLX, game developers JoyFun and Gaijin, and foreign exchange brokerages Finsa and FXDD.
"December saw record monthly revenues and earnings. This momentum has continued into the first three months of 2015 and we have enjoyed very strong trading. In 2015, we will continue to develop our technology and products and grow the business into new market and industries, enabling us to benefit from operational leverage," Chief Executive David Avgi said in a statement.
Safecharge has also begun a programme of strategic acquisitions, adding 3V Transaction Services Ltd and CreditGuard Ltd in deals that completed in January 2015.
"In parallel to the company's organic growth strategy SafeCharge is constantly looking for potential acquisitions with the capacity to facilitate and accelerate its access to new technologies, markets, clients and territories," it said.
The company will pay a final dividend of USD5.28 cents a share, bringing its total dividend for 2014 to USD8.16 cents.
Safecharge shares were up 4.8% at 270.25 pence in London early Tuesday.
By Steve McGrath; stevemcgrath@alliancenews.com; @stevemcgrath1
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