Strong opening to 2016 sees Paysafe Group outperform market guidance

Joel Leonoff
Joel Leonoff

Following a strong start to its 2016, FTSE 250 online payment provider Paysafe Group PLC  (Paysafe) has declared that its corporate performance is outperforming year market expectations.

Paysafe Group (the merged entity of Optimal Payments and Skrill) who secured a December listing on the London FTSE, stated that its strong opening momentum will likely continue for the rest of 2016.

Issuing a trading update, Paysafe governance has raised its performance guidance, with the company declaring that its year revenues will be in the range of $950-970 million ahead of its prior consensus of $910 million.

The industry leading payment provider further expects a full-year EBITDA of $270-276 million compared to its previous consensus of $260 million.

Further positives saw Paysafe update investors that its integration of Skrill assets remained on course to be completed by Q3 2016, with the company expected to give a full update with its H1 2016 results.

Commenting on today’s market update, Joel Leonoff CEO of Paysafe Group stated

“I am delighted to report such a strong performance for the group in the first four months of the year. As a result of the positive momentum across our business, we expect to deliver full year revenue and adjusted EBITDA ahead of market expectations. We look forward to providing a further update when we announce our half-year results.”

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