SafeCharge Reports Positive Guidance for Upcoming Financial Results

SafeCharge has issued a trading update for the first half of 2016 with adjusted EBITDA expected to be in excess

SafeCharge, a provider of payments services, technologies and risk management solutions for online and mobile businesses, today published an upbeat trading statement for the first six months of 2016.

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The company said that it has enjoyed strong trading in the first half of 2016. As a result, Adjusted EBITDA for the period will be comfortably ahead of US$16 million and the directors are very confident of the outcome for the full year and therefore expect the momentum to continue.

The directors confirm that the US dollar is the group’s functional and most significant currency in terms of contribution to revenues and that nearly 80% of the group’s cash is held in US dollars with sterling balances representing less than 5%.

Last March, SafeCharge published its full year results for 2015 year ending December 31st, which was reported by Finance Magnates. The company reported broad increases year-on-year compared to its 2014 totals across key financial highlights with growth seen in almost all top-line numbers and gross revenues up 30 percent year-on-year.

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