SafeCharge 2014 profits soar 119%
Payments supplier reports substantial increase in revenues and profits during its first full-year results since listing
Online payments provider SafeCharge has reported a 78% year-on-year increase in 2014 full-year revenues, helping drive company profits to a new high of US$24.7m (£16.7m).
The London AIM-listed company this morning revealed EBITDA for the 12 months ended 31 December 2014 had increased 119%, while revenues for the same period were up from $43.2m (£29.3m) to $76.9m (£52.1m).
SafeCharge CEO David Avgi praised the company’s progress during a “transformational year” for the firm as he outlined its targets for 2015.
“This momentum has continued into the first three months of 2015 and we have enjoyed very strong trading,” Avgi said.
“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,” he added.
SafeCharge, part-owned by Playtech founder Teddy Sagi, floated on London’s Alternative Investment Market in April last year and has since signed contracts with egaming operators including Ladbrokes and Rank Group.
Last year the company also won Payments Company of the Year at the 2014 eGaming Review B2B Awards.
SafeCharge’s share price was 258.50p on the London Stock Exchange at the time of writing.