16 May 2014 07:00
SafeCharge International Group Limited
("SafeCharge" or the "Company")
Trading Update and Senior Management appointment
SafeCharge (AIM: SCH), the international provider of payments services, risk management and IT solutions for online businesses, today provides the following trading update.
The momentum generated throughout 2013 has continued into 2014. Q1 2014 revenues were substantially ahead of Q4 2013 and better than expectations for the quarter, primarily driven by organic growth of existing customers. Further strong trading was recorded in April and for the first half of May.
The Company has continued to develop a strong pipeline of new business opportunities and gained significant new clients, including Gaijin Entertainment and Ladbrokes, which went live on the SafeCharge payment platform in Q2.
SafeCharge remains focused on geographic expansion and is pleased to announce that Mr. Praful Morar has joined the Company as Corporate Development and Strategy Director. Mr. Morar, who will report to the CEO, was previously Vice President of Vertical Market Strategy at Worldpay, the global payment processing company, and brings with him more than a decade of experience in the international payments industry. Mr. Morar's role will be focused on driving SafeCharge's international expansion plans in existing and new geographies.
Operationally the Company has continued to develop its core systems and progress projects such as its digital wallet and the integration with card schemes including MasterCard. The robustness and reliability of SafeCharge's systems was clearly demonstrated throughout both Cheltenham and the Grand National when the Company processed record transaction volumes.
The Board is very encouraged by SafeCharge's performance at the start of 2014 and looks forward to the year ahead with confidence.
-Ends-
For more information
SafeCharge International Group Limited David Avgi, Chief Executive Officer Tim Mickley, Chief Financial Officer c/o Bell Pottinger
| +44 (0) 20 7861 3232 |
Shore Capital (Nomad and Broker) Pascal Keane Toby Gibbs
| +44 (0) 20 7408 4090 |
Bell Pottinger David Rydell Olly Scott Guy Scarborough | +44 (0) 20 7861 3232 |
About SafeCharge
SafeCharge International Group Limited is a global provider of payments service, risk management and IT solutions for online businesses. The SafeCharge group has a diversified, blue chip client base and is a trusted payment partner for customers from various e-commerce verticals. SafeCharge has been Payment Card Industry Data Security Standard ("PCI-DSS") Level 1 certified since 2007 and is listed on the London Stock Exchange AIM market (LSE: SCH). SafeCharge Limited, a wholly owned subsidiary of SafeCharge, is an authorised Payment institution regulated by the Central Bank of Cyprus (CBC). The SafeCharge group has operations in the UK, Cyprus, Bulgaria, Israel, Germany and Austria. www.safecharge.com