Payments services provider SafeCharge International Group Ltd (LON:SCH) issued a statement today indicating that it saw strong activity levels in the first quarter of 2016, with revenues and gross profit ahead of budget.
In March SafeCharge processed record volumes, with the positive momentum continuing into April. About 10% of this volume was processed through SafeCharge’s own acquiring platform.
SafeCharge’s strong results follow record revenues and EBITDA reported by SafeCharge in the second half of 2015 (see chart below).
The start of 2016 has also brought some significant client developments for SafeCharge, including the delivery of a major new payments platform for the Rank Group, the launch of the Group’s first airline customer ELAL, and go-live with alternate payment methods for certain PaddyPower Betfair (LON:PPB) brands.
SafeCharge also announced the hiring of Phil Atherton as Chief Risk Officer (CRO). He joins SafeCharge after nearly five years as Payment Networks Director at Barclaycard. He was also previously Head of Scheme Compliance and Management at WorldPay.
SafeCharge’s annual general meeting of shareholders takes place later today in Guernsey.