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SafeCharge International expects revenue beat; earnings in line

Wednesday, 28th November 2018
Payments technology group SafeCharge International said it expected to post full-year revenue above market expectations after strong growth in volumes.

Revenue would be in the range of $135m-to-$138m, with processed volume for the full year expected to rise 40% to $14bn.

Adjusted operating earnings, however, was expected to be in line with market expectations owing to increased investment in platform development and sales and marketing.

'The group enters 2019 with an expanded client base and strong pipeline which gives us confidence for 2019 and beyond,' SafeCharge said.

The company also announced that it had appointed current technical operations head Hadar Michaelis as its chief operating officer.

Michaelis had previously held several executive management technical positions, including more than 10 years at Israel Discount Bank.

Former chief operating officer Yuval Ziv had been appointed as chief commercial officer.

At 9:22am: (LON:SCH) SafeCharge International Group share price was +8.5p at 262.5p

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