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PAYMENT solutions provider Emerchants (ASX: EML) has reported a triple-figure increase to its revenue and positive growth across most markers of its business.
EBITDA was up $6 million from the year before to measure at $2.6 million, generated from a combination of Australian and European revenue growth.
The company cites uptake in its reloadable business, which saw total dollars loaded up 166 per cent to $447.5 million, and organic growth in European operations as primary reasons why.
In a statement to the ASX, the company noted its growing vertical appeal in the Australian market. Its reloadables - which are essentially prepaid debit or credit cards - have broadening appeal among distribution programs, consumer lending, commercial and gaming.
The company reports it is eyeing growth in B2B non-reloadables in Europe, which is likely to be 'as significant, if not more significant than in Australia'.
At present, the European non-reloadables segment is 'highly seasonal' and a significant amount of volume is occurring in the month of December, but the company signed Hammersons and MFI on June 30 which is expected to deliver a boost.
Pictured: EML CEO and managing director Tom Cregan
*Please note: Emerchants (ASX:EML) completed a changed of name to EML Payments (ASX:EML) in October 2016
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