Paysafe Group Shows Upbeat Trading Update Ahead of FY 2015 Results
- The group estimated its FY 2015 revenue at $600 million, helped in large part by a robust product line and its North American business.
Paysafe Group plc (LSE:PAYS), an online Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term and money transfer service and solutions provider, has announced a trading update for the past twelve months ending December 31, 2015, according to a Paysafe statement.
In particular, the group is expecting an FY 2015 revenue of $600 million, helped in large part by a robust product line and its North American business – this included an estimated group revenue in H2 2015 that had swelled to $380 million.
Moreover, over the same period ending December 31, 2015, Paysafe is also portending an FY 2015 adjusted EBITDA of $150 million, which includes H2 adjusted EBITDA of $100 million, demonstrating a strong close to the fiscal year.
Paysafe also underwent changes to its business, including the integration of digital payments business Skrill Group back in mid August. The group estimated that its H2 2015 savings as a result of the Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term are commensurate with the upper threshold of a previously announced $5-10 million range.
In addition, Paysafe also launched a new global Paysafe brand identity back in November 2015. This was followed by share trading of Paysafe Group plc on the London Stock Exchange's (LSE) marketplace on 23 December 2015. In addition to the LSE, Paysafe is also eyeing inclusion in the FTSE 250 Index at the March 2016 index review.
According to Paysafe President and Chief Executive Officer Joel Leonoff in a recent statement on the metrics: "This has been a transformational year for our business. Revenue and underlying earnings have grown strongly and the Skrill acquisition significantly enhances our global scale. The Group is now operating in more markets and geographies than ever before.”
“We are delivering on the targets we set ourselves as part of our strategy to create a payments powerhouse across digital wallets, payment processing and prepaid products and services. Our positive momentum, which continued through the fourth quarter, provides a strong foundation as we head into the new financial year," he added.
Paysafe Group plc (LSE:PAYS), an online Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term and money transfer service and solutions provider, has announced a trading update for the past twelve months ending December 31, 2015, according to a Paysafe statement.
In particular, the group is expecting an FY 2015 revenue of $600 million, helped in large part by a robust product line and its North American business – this included an estimated group revenue in H2 2015 that had swelled to $380 million.
Moreover, over the same period ending December 31, 2015, Paysafe is also portending an FY 2015 adjusted EBITDA of $150 million, which includes H2 adjusted EBITDA of $100 million, demonstrating a strong close to the fiscal year.
Paysafe also underwent changes to its business, including the integration of digital payments business Skrill Group back in mid August. The group estimated that its H2 2015 savings as a result of the Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term are commensurate with the upper threshold of a previously announced $5-10 million range.
In addition, Paysafe also launched a new global Paysafe brand identity back in November 2015. This was followed by share trading of Paysafe Group plc on the London Stock Exchange's (LSE) marketplace on 23 December 2015. In addition to the LSE, Paysafe is also eyeing inclusion in the FTSE 250 Index at the March 2016 index review.
According to Paysafe President and Chief Executive Officer Joel Leonoff in a recent statement on the metrics: "This has been a transformational year for our business. Revenue and underlying earnings have grown strongly and the Skrill acquisition significantly enhances our global scale. The Group is now operating in more markets and geographies than ever before.”
“We are delivering on the targets we set ourselves as part of our strategy to create a payments powerhouse across digital wallets, payment processing and prepaid products and services. Our positive momentum, which continued through the fourth quarter, provides a strong foundation as we head into the new financial year," he added.