EML Payments group revenue up 39% 1HFY19

Company News

by Anna Napoli

EML Payments (ASX:EML) has announced a 39 per cent increase in group revenue for the first half of the 2019 financial year (H1FY19) to $47.2 million.

Earnings (group EBITDA) were up 50 per cent to $13.74 million.

EML says reloadable cards for the sports betting segment continue to scale globally with the estimated size of the online gaming market in the Americas estimated to be around $90 billion.

Looking ahead, EML has confirmed full year FY19 earnings (EBITDA) guidance of $27-28 million inclusive of Flex-e-Card acquisition costs.

Earlier this month EML announced the acquisition of UK-based shopping centre-focused gift card Solutions Company for total consideration of $40.5 million.

Shares in EML Payments (ASX:EML)  are trading 5.9 per cent higher at $2.69.