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

Did you sort your comp, out 3m??

What do you mean by comp bb?

computer....... you seem to have malwear on it.,.

Oh! sorry bb a little confused, a little in sock at seeing the sudden price of these. Well the computer - I decided to go into money am through Internet Explorer and not Google and haven't had a problem since. I haven't been through google now for anything and had no problem adverts, or loss of internet or having to ring virgin up or anything, touch wood.

Oh! sorry bb a little confused, a little in sock at seeing the sudden price of these. Well the computer - I decided to go into money am through Internet Explorer and not Google and haven't had a problem since. I haven't been through google now for anything and had no problem adverts, or loss of internet or having to ring virgin up or anything, touch wood.

maybe good if you go into "control panel" from the start button, then "Add/remove" programs and remove google from your computer. you can re-install it later if you need it. Then download "CCleaner" from a trusted site and run it on cleaner, then Registry. That will remove any bits left over. I use "Mozilla firefox" and well impressed with it as opposed to I.E.
BB.

365p my goddddddddddddddddddddddddddd.

Looks like bad management to me unless they have something around the corner.

Out of this at 372
Bit disappointing but sooner watch from sidelines

wheres support 330p?

If you draw a base trendline just about right on support now.

If it goes 350p 25 day moving average.

Support at 320
And then major support at 300

This will take some time to clear out the sellers and then buy back in!

Think your being too stingy their David, placing price should act as support.

More fool me once again, I should have gone when they were £420-440 last week, I never learn.

Shouldnt we all.

Think this will be a short term pull back though.

Over 55 million sold so I think it will be a longer term pull back unless there is something else up their sleeve which we don't know about. Not a good end to a very red week here. Have a good weekend - no point in worrying.

Yes you are probably right GF. But it was a big chunk of equity sold. I am sure it will balance and resume it's trend and I shall sleep well in the meantime!

I'm not overly concerned, growth of massive US online gambling gaining traction to support this IMO

That is the only thing that is keeping me going at the moment Greyhound. Been a long haul.

Holding this one, among others. News says all 44 million shares were successfully placed with new and existing investors...at 365p. Under normal market circumstances that would seem to offer price support. A bit too early to tell, though, if we have normal market circumstances.

Good Luck to you to - new bern NC.