SafeCharge International Group Ltd Reports Revenues Skyrocketing in H1

The company’s bottom line has also perked up as the firm’s core business processing volumes totaled $3.3 billion

Payments company SafeCharge International Group Ltd (LON:SCH) has just published the company’s performance metrics for the first half of 2015. Revenues increased by 44 percent to $49.5 million, while gross profits totaled $28.5 million, surging 40 percent year-on-year.

While the figures represent a slowdown from the growth rates seen last year, the bottom line performance is enough for the company to recommend an increase in dividends for shareholders. The interim dividend is set at $0.04 per share, which is an increase of 39 percent when compared to last year.

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The company’s business activities are focused on providing a range of payments and risk management solutions to online businesses, such as several big foreign exchange brokers and gaming companies.

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The CEO of SafeCharge International Group Ltd (LON:SCH), David Avgi, commented in the announcement, “We have continued to develop and expand our technology base and product offering, particularly our acquiring services and issuing capabilities. With our strong current trading and pipeline, we look forward to the rest of the year with confidence and optimism.”

Looking at some other metrics which the company released, adjusted EBITDA was higher by 41 percent to $15.2 million, while adjusted profit was up by 59 percent to $16.1 million.

Cash flows from operations totaled $14.5 million, while reported profits after tax skyrocketed 158 percent in the first half of the year to reach $12.4 million. The company has put its cash reserves which it raised after the Initial Public Offering (IPO) to good use. The company’s cash balances actually decreased year-on-year by about 19 percent to $115.7 million.

The company’s core business processing volumes have surged to $3.3 billion, which is higher by 27 percent.

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