Optimal Payments to beat full-year forecasts

Strong growth in the second half at international online payments provider Optimal Payments means that revenues and earnings for 2012 will be beat market forecasts, the AIM-listed firm said on Monday.

Strong growth in the second half at international online payments provider Optimal Payments means that revenues and earnings for 2012 will be beat market forecasts, the AIM-listed firm said on Monday.

The company said that its second-half performance was driven by its NETBANX STP division, which processes credit/debit cards, online direct debit and local payments, and an improvement in the NETELLER Stored Value business, which processes e-wallet payments.

"As a result, both revenue and EBITDA [earnings before interest, tax, depreciation and amortisation] for the full year ended December 31st 2012 are expected to be ahead of market expectations," the firm said.

Optimal Payments now expects full-year revenue and EBITDA to be at least $172m and $26.0m, respectively.

"We look forward to 2013 as we build upon our strong technological and risk-management foundation. We believe the momentum we have built in 2012, particularly during the second half, will continue into 2013 as our pipeline of opportunities and financial run rate are encouraging," said the group's President and Chief Executive Joel Leonoff.

"Our experienced and professional management team and staff continue to work effectively to drive the group forward and we see many opportunities for both our NETBANX straight through processing and NETELLER stored value businesses in 2013 and beyond."

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