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Trading statements

Paysafe performing in line with management views

09 May 2017 07:52

Paysafe continues to perform in line with the management expectations, and reiterates its FY 2017 guidance of low double-digit organic revenue growth, and to at least maintain a 30.1% adjusted EBITDA margin in FY 2017.

"Adjusted cash conversion remains strong. The Group continues to de-lever even after returning £22.4m of capital to shareholders in the form of a share buyback during the first three months of the year," it said in a statement.

President and CEO Joel Leonoff said Paysafe had enjoyed a strong start to 2017 and each of its divisions was performing as expected.

"Our business continues to benefit from the disciplined execution of our strategy," said Leonoff.

"Paysafe is focused on driving sustainable organic growth, providing state-of-the-art technology, delivering relevant niche oriented payment solutions, nourishing an entrepreneurial company culture, and identifying and integrating bold acquisitions.

"We believe Paysafe's differentiated and relevant products and services position us very well in a rapidly-evolving payments industry."

Story provided by StockMarketWire.com

Related Company: PAYS

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