SafeCharge (AIM: SCH), the international provider of payments services, risk management and IT solutions for online businesses, provides the following trading update ahead of its 2014 full year results which will be announced in the latter half of March 2015.
Trading in the fourth quarter continued to be strong. As a result, the Company expects that Adjusted EBITDA* for the full year will be ahead of market expectations and at least US$24.5 million.
In addition to the strong trading performance, the period was notable for a number of operational advances including the Company receiving approval for Issuing Activity by MasterCard Europe and the separate acquisitions of CreditGuard and 3V Transaction Services. These acquisitions, which completed in the second week of January, will expand SafeCharge’s product offering and accelerate entry into new markets.
December was an extremely strong month for the Company. This momentum has continued into January and the Directors look forward with confidence for the 2015 financial year.
*Adjusted EBITDA is calculated after adding back certain non-cash charges and cash expenses including those relating to professional costs incurred in respect of the Company’s Initial Public Offering and terminated projects.