Sep 27th 2012 - Edison Investment Research today published a report on Optimal Payments (OPAY.L, LSE:OPAY, LON:OPAY) entitled "NETBANX Drives Upside". In summary, the report says:
Optimal Payments (OP) reported stronger than expected H112 revenues and EBITDA, driven by revenue upside from the straight through processing (STP) business. Recent restructuring in the Stored Value (SV) business has reduced the ongoing cost base and revenues appear to be picking up in H2 as the VIP programme starts to take effect. We raise our revenue forecasts for FY12 and FY13 to reflect strength in STP, and despite lowering gross margins to reflect mix and higher processing costs, we increase our FY12 EBITDA forecast by 17% and FY13 by 8%.
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