goldfinger
- 19 Sep 2012 09:28
SUPERB RESULTS
REG - Optimal Payments PLC - Interim Results19 Sep 2012 - 07:01
For best results when printing this announcement, please click on the link below: http://pdf.reuters.com/Regnews/regnews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20120919:nRSS5828Ma RNS Number : 5828M Optimal Payments PLC 19 September 2012 Optimal Payments Plc Interim Results for the six months ended 30 June 2012 Strong first half growth, on track to exceed full year market expectations Optimal Payments Plc (LSE: OPAY) ("Optimal Payments", the "Group" or the "Company"), a leading online payments provider, today announces its results for the six months ended 30 June 2012. Highlights · EBITDA(1) up 76% to $11.2m (H1 2011: $6.4m). · Revenues up 37% to $78.9m (H1 2011: $57.4m). Fixed costs marginally down following headcount reduction in Q1. · Profit before tax $1.7m (H1 2011: loss of $4.1m). · Strong organic growth from NETBANX Straight Through Processing division ("STP"), up 68% to $61.9m (H1 2011: $36.9m) with continued strength and growth in Asia. · NETELLER Stored Value ("SV") revenues down to $16.2m (2011:$18.0m(2)) principally as a result of the fallout from Black Friday(3) in H1 2011. § Initiatives undertaken in H1 have produced improved results in second half to date. Major investment in NETELLER SV platform now complete and cost base aligned. § US online gaming opportunity taking shape. · Strong demand from existing customers and from new customers won during the first half including Ford Credit, Hockey Canada and Rona. Commercial agreement signed with Lotus F1 Team. · Strong H1 revenue exit run rate positions the Company for further growth in second half and on track to exceed the market consensus full year expectations. Financial summary (unaudited) Six months ended 30 June 2012 2011(5) US$ million US$ million Revenue Straight Through Processing (NETBANX bureau & gateway services) 61.9 36.9 Stored Value (NETELLER eWallet & Net+ cards) 16.2 18.0 Stored Value - discontinued revenues (4) - 2.1 Investment income 0.7 0.4 Total Revenue 78.9 57.4 EBITDA (1) 11.2 6.4 Profit/(loss) before tax 1.7 (4.1) Tax (charge)/recovery (6) (2012 charge relates to 2004/5 period) (2.5) 0.5 Net loss for the period (0.8) (3.6) (1) EBITDA is defined as results of operating activities before depreciation and amortisation and exceptional non-recurring items which are defined as items of income and expense of such size, nature or incidence, that in the view of management their disclosure is relevant to explain the performance of the Group. (2) Excluding discontinued revenues - see note 4. (3) "Black Friday" refers to the regulatory action taken in April 2011 against certain major poker operators which resulted in many players ceasing to play poker worldwide. (4) Discontinued revenues were derived from e-money expiry which is now subject to different rules under the Electronic Money Regulations 2011. (5) 2011 comparables include only 5 months of revenues and costs from the OP Inc business acquired on 1 February 2011. (6) Tax charge in the period relates to expected reassessment of 2004/5 Canadian taxes following a review by the Canadian Revenue Agency which commenced in 2005. The Board has made a full provision for the amount it believes it is likely to be required to pay in respect of withholding taxes and interest. See note 17 in the Financial Statements for more detail. Commenting on today's results announcement, Joel Leonoff, President & CEO, said: The combination of NETELLER and OP Inc. has produced a multi-faceted payment product offering and positioned the emerged business Optimal Payments Plc to benefit from a rapidly evolving online payment market. Our efforts have resulted in a fully integrated and right-sized business with an efficient cost base. Our operationally geared business model, continued focus on product development and R&D, along with our strong presence in the internet payment market have combined to produce significant organic revenue and EBITDA growth. Our H1 results and strong foundation position the Company well for further growth in H2. The online payment industry continues to consolidate and the Group should benefit from the expected significant growth in both the online and mobile commerce markets. We see substantial opportunities to provide innovative solutions to merchants and consumers in both the NETELLER eWallet and NETBANX
3 monkies
- 16 Oct 2013 22:12
- 187 of 853
Mine is £183.081 - the only dam thing that is in profit. Long may it continue.
3 monkies
- 17 Oct 2013 08:11
- 188 of 853
My friend has to wait until these get to £5.20 to break even.
david lucas
- 17 Oct 2013 08:31
- 189 of 853
Good grief 3M I shall be rich if they hit £5.20!!!
Thank goodness for stop losses. I set mine at 15% as it usually means a serious problem. It can be so painful at the time but can be a relief.
goldfinger
- 17 Oct 2013 08:42
- 190 of 853
300p on its way.............nice, very nice.
3 monkies
- 17 Oct 2013 09:33
- 191 of 853
I would be extremely happy it they hit £5 - quite happy at the moment but let us not talk too soon.
goldfinger
- 17 Oct 2013 10:10
- 192 of 853
Sailed through 300p. Jolly nice.
3 monkies
- 17 Oct 2013 10:19
- 193 of 853
fantastic.
3 monkies
- 17 Oct 2013 19:50
- 194 of 853
A very nice finish. Looks like I am about to loose out on Hibu and Woburn Energy so after Biome as well, I need all I can get so come on Opay keep up the good work.
david lucas
- 17 Oct 2013 20:14
- 195 of 853
A good finish! I have been out all day. Shall have to go out all day again....
goldfinger
- 17 Oct 2013 20:42
- 196 of 853
DOW now break even, hopefully a good start in general for the market tomorrow will keep the momentum going.
goldfinger
- 18 Oct 2013 08:54
- 197 of 853
Off on a positive run again. Nice. Jolly nice, yes indeed.
david lucas
- 18 Oct 2013 09:21
- 198 of 853
9.17am
Looking at level 2 there is very little stock for sale after 311.
900 at 311
3766 at 314
4500 at 315
1007 at 319.75
and then a jump to 325
It would not take much to push up to 319 and then 325 once the buy orders at 308.25 are taken up.
Hopefully a good sign.
3 monkies
- 18 Oct 2013 09:22
- 199 of 853
Agreed, something is going on or about to I would suggest. No sells as I speak, let us hope I haven't spoken too soon.
3 monkies
- 18 Oct 2013 18:37
- 200 of 853
A nice finish.
goldfinger
- 18 Oct 2013 22:30
- 201 of 853
Lovely finish to a lovely week on the market.
3 monkies
- 21 Oct 2013 17:10
- 202 of 853
A very strange day here!! Still in the blue though.
goldfinger
- 21 Oct 2013 17:19
- 203 of 853
Certainly was 3M and even now buy strength far greater than sell strength. Up 4% plus at one time.
If David Lucas is about later maybe he can inform on level 2 order book.
3 monkies
- 21 Oct 2013 17:33
- 204 of 853
Personally I don't understand order books and level 2 just an ordinary lay person, ha!ha! Would be nice though.
goldfinger
- 21 Oct 2013 17:39
- 205 of 853
3M I used to have it but found I was no better off with it in the long run. I did a bit of back testing.
If they made it cheaper I think i would have it again, but its far too dear for a tight Yorkshireman like me.
dreamcatcher
- 21 Oct 2013 17:55
- 206 of 853
'Ear all, see all, say nowt;Eyt all, sup all, pay nowt;And if ivver tha does owt fer nowt -Allus do it fer thissen. What's that in English?