Paysafe on course for FTSE 250 with + $600 million in revenues

Joel Leonoff

Announcing its first FTSE full-year earnings results, online payments provider Paysafe Group (the merged entity of Optimal Payments and Skrill) reported a 68% revenue surge to $613 million (£432 million) for its FY2015 corporate performance (period ending 31 December 2015).

As expected Paysafe Group pre-tax profits were impacted by its completed November 2015 takeover of competitor Skrill. The company would declare pre-tax earnings of $7.4 million down 87% on FY 2014’s $57 million.

Paysafe governance would detail that on an adjusted basis (excluding acquisition impacts) the company would have recorded profits of $108 million.

Highlighting 2015 performance drivers, Paysafe governance noted the strong performance of its digital wallet which had reported revenues of $159 million, up 78% on FY 2014.

In its new merged entity with Skrill assets, Paysafe has become the leading payment provider to the online gaming and betting sectors. Paysafe governance declared that it was on course to gain its FTSE 250 listing in the coming months.

Issuing a statement, Joel Leonoff, Paysafe President and CEO, commented on corporate performance

“I am pleased to report that the positive momentum we’ve shown in delivering our results slightly ahead of expectations in FY 2015 has continued into the early part of this financial year. I am very excited about our prospects and opportunities in the year ahead.”

read more  :  www.sbcnews.co.uk

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