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Shares in Paysafe Group (LON:PAYS) were on the march this morning as the firm said revenues and earnings for the year are likely to beat market hopes.
The online payment company, formerly known as Optimal Payments, hailed a strong end to the year for its bullish trading statement, sending shares more than 9% higher to 395p.
Revenue is expected to be around US$600mln, with second half sales up to US$380mln following a hike in demand from North America.
Additionally, the integration of Skrill Group is progressing well with around US$5-10mln in synergy savings expected in the second half.
Underlying earnings [EBITDA] for the year to December are expected to be around US$150mln, with second half EBITDA jumping to US$100mln.
Joel Leonoff, chief executive, said: “Revenue and underlying earnings have grown strongly and the Skrill acquisition significantly enhances our global scale.
“We are delivering on the targets we set ourselves as part of our strategy to create a payments powerhouse across digital wallets, payment processing and prepaid products and services.”
Shore Capital said Paysafe “delivered strong strategic progress” last year and said it now awaits an announcement on the company’s intention to pay a maiden dividend.