PAYS management say the firm should deliver nearly $1bn in revenue and $290m in EBITDA
Companies: Paysafe Group
Global payment specialist Paysafe Group Plc (LSE: PAYS) put out a brief trading update this morning confirming that the company would deliver the upgraded revenue and adj EBITDA that it had projected back in August.
In its Interims, the group said it was on target to deliver revenue of nearly $1bn and adj EBITDA of nearly $290m. Reporting a margin of approximately 29.6%. Below is a recap of what Paysafe delivered in the first six months.
The company's H1 results were significantly enhanced by weakened sterling after the Brexit vote in the summer, but GBP has since recovered slightly due to Brexit's legal uncertainty and the market's concern that Trump has a genuine chance in today's election. Therefore it's encouraging that Management still expects to deliver its improved targets.
The shares are off slightly in early trading this morning, down 1.5%.
CEO Joel Leonoff said he was delighted that the firm was on track to achieve the upgraded projections set out in August:
"... our focus [has been on] further expanding our payments business and enhancing our core technology platform.
We remain focused on delivering innovative payment solutions that serve the evolving needs of the merchants we work with and look forward to updating the market on our FY 2016 results in early 2017."
