Search This Blog

22 May 2014


Location: London, UK
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”.