Safecharge claims ‘outstanding’ first year as a public company

Roger Withers, chairman of Safecharge International Group, said the payment services provider was able to achieve an “outstanding” set of results during its first year as a public company.

The firm posted full-year revenue of $76.9 million (€72.5 million), up 78% on the $43.2 million achieved in the previous year,

Gross profit jumped 79% year-on-year to $44.5 million while adjusted net profit hiked 122% to $21.3 million.

Elsewhere, adjusted earnings before interest, tax, depreciation and amortisation increased 119% to $24.7 million while reported tax after cash amounted to $20.8 million.

Safecharge also noted that its cash balances at the end of the year amounted to $146.5 million, which represents huge growth on the$11.8 million at the end of the previous 12 months.

“It is a privilege to present such an outstanding set of results in our first year as a public company,” Withers said

“I congratulate David Avgi (chief executive officer) and the whole of the SafeCharge team, for an excellent performance during a landmark period for the group.

“We entered the year trading strongly with financial strength to pursue our stated M&A strategy.”

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