Paysafe provides Q3 trading update, results in tune with expectations

Paysafe Group Plc, formerly known as Optimal Payments Plc (LON:OPAY), today published an update on its performance for the third quarter of 2015.

The Group said it saw strong trading during the third quarter and that the full-year Group revenue and EBITDA before synergies are in line with management expectations.

The integration of digital payments business Skrill, whose acquisition was completed in August 2015, is proceeding ahead of schedule. As a result, approximately $5-10 million of synergy savings are expected to be achieved by the end of Q4 2015, ahead of management’s previously-expected Q1, 2016 timeline.

Paysafe President and CEO Joel Leonoff said:

“This has been a transformational year for the Company. We are particularly encouraged by the positive momentum we are seeing across all our divisions. We are trading well due to the continued strength of our business, strong cost control and accelerated synergies arising from the Skrill acquisition. Our growing digital payments business, under our new Paysafe brand, is focused on delivering sustainable profitable growth and we are very pleased with the progress we are making.”

Paysafe continues to seek admission of its ordinary shares to listing on the premium segment of the Official List of the UK Listing Authority and admission to trading on the London Stock Exchange’s Main Market for listed securities. The Company anticipates the earliest possible date at which the Company will be considered for inclusion in the FTSE 250 index will be the quarterly review in March 2016.

To view the official text of the trading update, click here.

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