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SafeCharge makes 'solid' start to financial year

By Josh White

Date: Thursday 20 Jul 2017

SafeCharge makes 'solid' start to financial year

(ShareCast News) - Advanced payment technology company SafeCharge said trading in the first half of its financial year was "solid" on Thursday, with the performance of SafeCharge Acquiring "particularly strong" and ahead of management expectations.
The AIM-traded firm's board said it was particularly encouraged by its pipeline of new, "quality" business from Tier 1 clients, many of whom reportedly started processing on the company's acquiring platform by the end of the first half of the year.

Despite that, the company said the revenue growth to maturity from those long-term Tier 1 clients was taking "slightly longer" than anticipated.

"The group continues to invest in sales, marketing and product development; strengthening the business for future growth," the board said in its statement.

"The board remains confident that the outcome for the year will be broadly in line with market expectations."

SafeCharge said it expected to announced its interim results for the six months to 30 June on 12 September.

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