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Paysafe revenue growth slows

08 August 2017 09:47

Paysafe (PAYS), a provider of payment solutions, saw year-on-year organic revenue growth of 12% in the first half of the year, compared with growth of 20% the year before.

Statutory revenue growth was 11%, down from 118% the prior year.

The company's adjusted profit after tax was $124 million compared with $101.4 million the year before.

Paysafe said it had returned to a more sustainable level of low-double-digit revenue growth after an exceptional performance in 2016.

The EBITDA margin rose from 29.6% to 31.4%, driven by improved gross margins in the Payment Processing and Digital Wallets divisions.

The largest customer represented 19% of group revenue, compared to 20% in the first half of 2016.

Paysafe chairman Dennis Jones said the figures reflect the group's increasingly diversified set of businesses.

"To that end, we were pleased to announce the acquisition of US-based MCPS in July, which strengthens our processing business, increases Paysafe Group's scale in North American acquiring and helps us to continue re-balancing our portfolio away from online gambling," he said.

At 9:47am: (LON:PAYS) Paysafe Group Plc share price was -2.75p at 589.25p

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