News Column

eServGlobal Expects EBITDA Profit Within Core Business At Half Year

June 2, 2014

Samuel Agini

LONDON (Alliance News) - eServGlobal Ltd Monday said it expects earnings before interest, tax, depreciation and amortisation to be in the black within its core business when it reports its first-half results at the end of this month.

In a statement, the emerging markets focused mobile payments business said the results follow "continued momentum" for its domestic mobile money services, including new customer wins and an expanding customer base.

eServGlobal reiterated that the HomeSend joint venture with MasterCard and belgacom company BICS will result in a one-off gain on sales before tax of between AUD33.0 million and AUD34.0 million.

The joint venture, which enables consumers to send money to and from mobile money accounts, payment cards, bank accounts or cash outlets, was announced in December 2013 alongside full-year results showing a swing to EBITDA profitability in the year ended October 31, 2013.

Results for the six months ended April 30 are due on June 30.

eServGlobal shares were Monday quoted at 49.92 pence, up 0.9%.

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Source: Alliance News

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