LONDON, MONTREAL and NEW YORK (May 21, 2014) -- At the Annual General Meeting of Optimal Payments Plc
("Optimal Payments" or the "Group", LSE: OPAY) being held later today
in the Isle of Man, Interim Chairman Jonathan Comerford will make the
following statement:
"I am pleased to report that 2013 was a year of many achievements for
Optimal Payments with excellent revenue growth from both our NETELLER
and NETBANX businesses and a significant increase in profitability.
Group revenues grew 41% to $253.4 million, EBITDA rose 89% to $52.2
million and Net Profit increased to $35.1 million from $1.2 million in
2012. The regulatory environment continued to evolve in 2013 and
although this did not materially impact our revenues in 2013, some
corresponding uncertainty about the regulatory landscape persists.
At the time of the Group's 2013 full year results in March we
announced an excellent start to 2014 including the launch of our new
NETELLER offering for the U.S. market and achievement of Principal
Membership for our NETBANX product that allows us to offer acquiring
services to merchants in the European Union from the second half of
2014. We expect the investment we have made in both 2013 and 2014 to
produce returns in 2015.
The strong trading in 2013 has continued in the year to date with
both businesses performing very well, with revenues ahead of the same
period last year and ahead of Q4 2013, and we look forward to a further
boost from the World Cup in June and July. As a result, both revenues
and EBITDA for the full year to 31 December 2014 are now forecast to be
materially ahead of market expectations.
I would like to thank the management team and employees for their
outstanding contribution, without which the Group's success could not
have been achieved.
We look forward to updating shareholders on the Group's progress at the time of our half year results in September”.
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