DataCash posts trading update

Source: DataCash

DataCash Group reports continued robust performance as Internet trading and the outsourcing of debit and credit card payments continues to grow.

DataCash, the UK's leading Payment Services Provider reports continued growth in the transactions processed by the Group for its clients. Outgoing CEO, Andrew Dark says' we updated the market in January and indicated consistency in our processing growth to the end of the year. We are now able to confirm that this trend has continued as we move towards the end of the 1st quarter. While no longer a binary link to revenue growth, transaction fees represent around 36% of Group's overall income and the strong performance of the market and DataCash's own increasing presence has delivered over 25% growth in the volume and value processed by the company year to date versus 2008. This transactional growth supports the marketing of the company's fraud management, dynamic currency and acquiring services, which will deliver the bulk of revenue growth in 2009. The general transactional growth in combination with the recent volume spikes due to the Cheltenham horse racing festival, served to prove that investment over the past 18 months has delivered the expected increase in scale and resilience to our authorisation processing.'

'DataCash's continued development can be attributed to the strong consumer offers that our clients are able to market to their customers and the expansion of our own client base as merchants continue to migrate their payment services to DataCash and away from less reliable service providers and costly in-house operations. The Group's on-going programme to ensure massive scalability within our systems has progressed well and new networks and data centres have been live for some time and are performing as expected. Centralisation of our Customer Support activities to our 24X7 operations centre in South Africa continues with the support functions of EuroCommerce, our Dublin based company servicing the airline and travel sector, now handled from Cape Town. The next quarter will see further consolidation within the Group with our German business, ExperCash (previously EasyDebit), moving into the Group operations centre which in turn will see us extend our language support from this facility.'

'Our substantial investment in technology over the past 20 months has significantly increased our capacity and our resilience to external failures. With the major moves completed and new technology deployed, we can now look forward to placing even greater focus on expansion of the geographic reach of our services through in -house development or further acquisition. I am delighted to be handing over the company to Joseph Blass in such a strong position and am sure that under his guidance the sustained growth over the past three years will be maintained.'

DataCash Group Plc expects to publish its annual results for the year to 31st December 2008 on Tuesday April 21st 2009.

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