SafeCharge sees record Revenues and EBITDA in 1H 2016, M&A activity imminent

Payments services and technologies provider SafeCharge International Group Ltd (LON:SCH) has reported its financial results for the first half of 2016, which saw the company continue to post steady if unspectacular growth on both the top and bottom line.

Revenues in the six months to June 30, 2016 rose by 4% over the second half of 2015 to $52.2 million at SafeCharge, while EBITDA was up 6% to $16.8 million. Both figures are the best ever for SafeCharge over a six month period.

The company also made note that it is actively in the acquisitions market, looking at value accretive M&A opportunities that either add new services, technologies, markets, clients or otherwise accelerate its corporate development strategy. SafeCharge stated that the pipeline of such opportunities is strong, and the company expects to announce closure of some transactions in the near future.


David Avgi, SafeCharge CEO

David Avgi, SafeCharge CEO

According to SafeCharge CEO David Avgi:

The operational momentum built over the last two years has continued into the first half of 2016. This has enabled SafeCharge to deliver further growth, reporting revenues of US$52.2 million (H1 2015 US$ 49.5 million) and Adjusted EBITDA of US$16.8 million (H1 2015: US$15.2 million).

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.

Whilst 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.

SafeCharge’s complete First Half 2016 report can be seen here.

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