SafeCharge reports solid Q1 growth, driven by new customer wins

Payments services and technologies provider SafeCharge International Group Ltd (LON:SCH) reported a Trading Update, indicating what it called solid growth in Q1-2017 over Q1-2016, and key customer wins to date in the first half of 2017.

That should bode well for first half results, especially since the first half of 2016 was better at SafeCharge than the second half.

The full Trading Update issued by SafeCharge reads as follows:

SafeCharge International Group Limited

(‘SafeCharge,’ the ‘Company’ and together with its subsidiaries, the ‘Group’)

Result of AGM and Trading Update

SafeCharge (AIM: SCH), the global provider of payments services, technologies and risk management solutions is pleased to announce that all resolutions were duly passed at the Company’s Annual General Meeting, which was held earlier today.

The company also provides the following trading update:

The Board reiterates expectations for full year 2017 performance.

Revenue has shown solid growth versus Q1 2016, driven by new customer wins in H2 2016.

The Board is encouraged by the pipeline of high quality business with a number of large new customers due to start processing in the second half of the year.

The growth of SafeCharge Acquiring remains on track.

The Group continues to invest in key new sales and marketing people, who are bringing new customers and a greater awareness of SafeCharge’s capabilities outside our traditional markets.

The Board remains confident that the outcome for the year will be in line with market expectations.

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