SafeCharge Reports 2015 Results Gross Revenues Up 30% YoY

2015 initiatives helped the company grow its core business that processed nearly $7 billion in transactions, adding to its bottom

UK listed payments operator SafeCharge International Group Limited which is traded on London’s AIM under ticker SCH, today reported full year results for its 2015 year ending December 31st. The company reported broad increases year-over-year when compared to its 2014 totals across key financial highlights. Growth was seen in every top-line number except cash balances at the year end which dipped to $114.9 million from $146.5 million the same time a year ago, or lower by 22%.

In terms of growth, revenues increased from $76.9 million in 2014, to $99.8 million reported for 2015 this morning and were higher by 30% year over year. Gross profit also grew 30%, and a recommended final dividend of $7.30 per share was higher by 38% from $5.28 in the previous year. The company said its reported profit after tax for 2015 was $22.9 million, higher by 58% compared with $14.4 in the prior year.

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The company processed nearly $7 billion worth of transactions last year for its core business, and launched a VISA acquiring service to complement the MasterCard offering, as well as launching the Pay.com pre-paid card successfully.

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Commenting in the company’s annual report, SafeCharge CEO David Avgi said: “The year of 2015 was another period of strong financial performance and continued growth. We have continued to innovate, develop and deliver our payment products and technologies, enabling us to deepen our relationships and win new business with large scale customers. With continued strong momentum and an excellent pipeline of new business, we look forward to the rest o f the year with confidence and optimism.”

 

The news follows the company’s latest partnership covered by Finance Magnates at the end of last month. Shares of the company (AIM:SCH) are up by 1.64% around time of publication.

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