SafeCharge wants to build on impressive 2015

SafeCharge wants to build on impressive 2015

Friday, March 11, 2016 Totally Gaming
David Avgi said the company has "an excellent pipeline of new business"

Chief executive David Avgi said SafeCharge is looking ahead to 2016 with “confidence and optimism” after double-digit growth last year.

The company, a leading payments solutions provider to the gaming industry, said in its results for 2015 that revenue was up 30 per cent year-on-year to $76.9m (€69.3m), with gross profits up by the same figure to $57.7m.

SafeCharge, which recently signed a partnership with Paddy Power Betfair, said its reported profit after tax for 2015 was $22.9m, higher by 58 per cent compared with the prior year. 

SafeCharge also noted that it has enjoyed an encouraging start to 2016, with the company declaring its ‘confidence’ over the performance of the business during the current year.

“The year of 2015 was another period of strong financial performance and continued growth,” Avgi said. “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 of the year with confidence and optimism.”

Meanwhile, payment solutions provider Paysafe Group, the owner of the Paysafecard and Neteller brands, is to be admitted to the FTSE 250 Index on March 21.

The company formerly known as Optimal Payments has joined the Main Market following its $1.1bn reverse takeover of rival Skrill last year.

Paysafe president and chief executive Joel Leonoff said: “Joining the FTSE 250 is another notable milestone in our journey and a testament to the ongoing progress being made by the group.

“As we continue to deliver against our business objectives, we have evolved into a leading player in our industry. We look forward to broadening our investor base and welcoming new shareholders to Paysafe.”

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