Payments service provider SafeCharge has released its interim results for the six months ending June 30, 2016.
The company recorded consolidated revenues of US$52.2m, a five per cent increase on the $49.5m recorded in H1 2015. There was also a 10 per cent rise in revenues, from $44.9m to $49.2m, an 11 per cent increase in consolidated gross profit, from $28.5m to $31.6m, and a 20 per cent increase in cash flows from operations, from $13.7m to $16.5m. Altogether, reported profit after tax was $15.2m for H1 2016, a 23 per cent improvement on the 12.4 per cent taken in H1 2015.
In addition, more than 10 per cent of the company’s transaction volumes were processed through its own acquiring platform during the period.
David Avgi, CEO of SafeCharge, said: “The operational momentum built over the last two years has continued into the first half of 2016. This has enabled us to deliver further growth, reporting revenues of $52.2m and adjusted EBITDA of $16.8m.
“The first half of 2016 was a period of further success and growth for the group. I am proud to report that several of our latest innovations in technology-based payment solutions have been successfully rolled out to serve our clients.
“While we continue to advance in our core verticals, the group has made exciting progress in entering our new target sectors and over coming months we will focus and invest further to build our sales teams in order to further accelerate entry into these sectors.”
