SafeCharge hails 'strong' first half on new client wins

AIM-listed payments technology company SafeCharge hailed a solid first-half on Friday on the back of new client wins.

In a brief update for the first six months of the year, the company said trading has been strong, with good momentum in revenues and transaction processing volumes, driven by new customer wins.

The group said it continues to invest in new sales people and additional marketing to bring in new customers and generate a greater awareness of its capabilities outside its traditional markets and verticals.

"With robust current trading and strong sales pipeline, the board remains confident that the outcome for the year will be in line with market expectations."

SafeCharge is due to release its interim results for the period ending 30 June 2018 on 13 September.

Shore Capital said: "We expect underlying margins to remain firm, with mix evolving reflecting a new business emphasis on servicing Tier 1 clients and SafeCharge’s growing own payments acquiring activity. Management also highlights the continued investment in new sales resources and additional marketing activity, leveraging the investment made in the payments platform and the acquiring engine.

"We retain our full-year forecasts at this juncture with increasing confidence."

At 1253 BST, the shares are up 1.9% to 334.58p.