TIDMDATA
RNS Number : 6671L
Datacash Group PLC
15 January 2009
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15 January 2009
DATACASH GROUP PLC: DATA / Index: AIM/ Sector: Support Services
DataCash Group Plc ('the Company')
Trading Update and Board Change
DataCash Group plc, the Aim listed payment service provider, is pleased to
provide a pre-close trading update for the year to December 31st 2008.
The Group has had a very successful year, and is confident that results for the
full year will meet market expectations when the Group reports in April.
E-commerce activity has continued to grow strongly. Historically, DataCash's
transaction volumes have tended to dip in December versus November due to
merchant fulfilment and holidays. Our increased presence in the cardholder
present environment and expansion into the travel sector, together with our
merchants' improved shipping processes, combined to raise transaction volumes in
December 2008.
In comparison to the November figures, December's transactions increased by
approximately 6%, and overall transaction volumes rose by more than 35% over the
year on a like for like basis versus 2007. The value of transactions processed
rose from about GBP12bn to around GBP16bn. This reflects the growth in
e-commerce, our emerging high street presence and the continued expansion of our
range of payment and fraud services.
The Group continued to grow its merchant base with larger merchants, many with
an international presence. The Group also renewed multi-year agreements with a
significant number of its major customers. In addition, our broad range of
services on offer for the UK retail market continues to attract well known high
street operators. In the last year alone, our merchants deployed over 4,500
point of sale terminals in UK all of which connect to DataCash's managed payment
service. A healthy order book awaits roll out in 2009 together with a strong
pipeline of prospects for 2009.
The acquisition of ACK and our proposed acquisition of 3rd Man will, we believe,
open up additional significant new opportunities in 2009, especially given the
pressures on the High Street chains to improve efficiency, cut costs, reduce
fraud exposure and adhere to the increasingly onerous Payment Card Industry
standards.
The global recession is expected to provide opportunities for us, both in terms
of organic growth and acquisitions, and we look forward to 2009 with
anticipation rather than trepidation. The Group is confident of its future
growth.
The Group also announces Mr Andrew Dark, Chief Executive Officer, has informed
the Board of his wish to resign from the Group in order to take a senior
position in a private equity backed company that is not in the payment service
industry. While the Board is disappointed at the news it recognises the
attractiveness of the opportunity, and has reluctantly accepted his resignation.
Andrew Dark will remain with DataCash while we search for a replacement, but is
expected to leave the company at the end of March.
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For further information please contact:
DataCash Group PLC
Paul Burton Tel: +44 (0)870 72 74 76 0
Finance Director E-mail: Paul.Burton@datacash.com
Andrew Dark Tel: +44 (0)870 72 74 76 0
Chief Executive E-mail: Andrew.Dark@datacash.com
Website: www.datacash.com
About DataCash
DataCash Group PLC (AIM: DATA), a market leading provider of payment
processing solutions, provides merchants with a single interface that allows
them to process secure payments, both on and offline, anywhere in the world.
DataCash also provides a range of value added services with its fraud and
Risk Management solutions supporting AVS/CV2, 3-D Secure (Verified by Visa
and MasterCard Secure Code) together with traditional rules-based screening.
DataCash provides first-class service reliability at a fraction of the price of
an in-house solution, servicing clients within the retail, travel,
telecommunications and gaming sectors.
This information is provided by RNS
The company news service from the London Stock Exchange
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