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SafeCharge Int Grp - Trading Statement

Wed, 28th Nov 2018 07:00

RNS Number : 6837I
SafeCharge International Group Ltd
28 November 2018
 

 

SafeCharge International Group Limited

 

 ("SafeCharge", the "Company" and together with its subsidiaries, the "Group")

 

 

Trading Statement

SafeCharge (AIM: SCH), a leading payments technology company, provides the following update.

 

Trading update

 

Trading ahead of the 2018 year-end has been strong, with the Group's processed volume for the full year anticipated to be about US$14 billion, up more than 40% on 2017. Revenue for the full year is expected to be above market expectations, in the range of US$135-138 million.

 

The Company continued its platform development and investment in sales and marketing to support future growth and accelerate the Group's entry into new verticals and geographies. As such, Adjusted EBITDA is expected to be in line with market expectations.

 

The Company continues to make considerable progress with its strategy of winning clients within both traditional and new target markets and verticals, specifically in online retail, travel and marketplace, with recent wins including World Duty Free and the online marketplace Lev Cargo.

 

Outlook

 

The Board is pleased with the Company's strong performance during the year. The Group enters 2019 with an expanded client base and strong pipeline which gives us confidence for 2019 and beyond.

 

Senior Management Appointment

 

SafeCharge announces that Hadar Michaelis has been appointed as Chief Operational Officer. Hadar is responsible for the Group's technical operations. Previously he held several executive management technical positions, including more than 10 years at Israel Discount Bank.

 

Yuval Ziv, formerly the Group's Chief Operational Officer, has been appointed as Chief Commercial Officer, responsible for SafeCharge's global commercial activities. Yuval remains an Executive Director on the SafeCharge board.

 

The appointment of Hadar as Chief Operating Officer and Yuval taking on the newly created role of Chief Commercial Officer further strengthens and broadens our leadership team.

 

- Ends -

 

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

 

Enquiries

 

SafeCharge International Group Limited

David Avgi, Chief Executive Officer

Tsach Einav, Chief Financial Officer

c/o FTI Consulting

 

+44 (0) 20 3727 1725

Jean Beaubois, Head of Investor Relations

 

+44 (0) 7826 936619

Shore Capital

Toby Gibbs

Mark Percy

 

 

+44 (0) 20 7408 4090

FTI Consulting

Matthew O'Keeffe

Elena Kalinskaya

 

+44 (0) 20 3727 1725

 

About SafeCharge

 

SafeCharge International Group Limited (AIM: SCH) is the payment service partner for the world's most demanding businesses. SafeCharge provides global omni-channel payments services from card acquiring and issuing to payment processing and checkout, all underpinned by advanced risk management solutions. This fully featured proprietary payment platform connects directly to all major payment card schemes including Visa, MasterCard, American Express and Union Pay as well as over 150 local payment methods. With offices around the world, SafeCharge serves a diversified, blue chip client base and is a trusted payment partner for customers across a range of vertical markets. The Company has been listed on the AIM market of the London Stock Exchange since 2014.

 

www.safecharge.com

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
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