Global Payments Provider SafeCharge Announces 2014 Revenues up 78%

SafeCharge (AIM: SCH) has just announced its inaugural annual results as a publicly listed company. The firm is providing payments services globally, catering to the needs of foreign exchange operators, spread betting companies, and online gambling providers amongst other businesses.

Revenues were up in 2014 by 78% year-on-year to US$76.9 million, with gross profit up 79% to US$44.5 million. The bottom line is net profit went up 122% to US$21.3 million with cash flows from operations almost doubling to US$20.8 million.

Profit after tax was reported at US$14.4 million, which is 11 times higher than in 2013. The cash balance position of the company remains solid with year end figures amounting to US$146.5 million.

The company signed up 250 new customers when compared to 185 in 2013, a 35% gain year-on-year. Amongst them was one of the major sports betting operators Ladbrokes.

The company’s CEO David Avgi, said, “after a transformational year of progress, 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.”

“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,” he highlighted.

The company’s board is to approve a final dividend at the Annual General Meeting on May 19th 2015 totaling to 3.57 pence per share which will be payable on May 26th. The stock will trade ex-dividend on May 7th 2015.

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