SHARES in Optimal Payments, the online credit card processing firm, rose more than nine per cent yesterday as the company cashed in on a boom in internet shopping.
The company, formally known as Neovia, yesterday told investors at its annual meeting that it expects 2013 revenues to be ahead of market expectations, while earnings would “significantly exceed” forecasts.
The statement was cheered by shareholders, who had been warned earlier in the year that 2013 might be a leaner year for growth than last year, when group revenues rose 40 per cent to $179m (£119m). Shares in the firm rose 9.25 per cent yesterday to 183p, compared to 71p a year ago.
Ivor Jones, an analyst at Numis who has a “buy” rating on the stock, said the performance was down to investing in infrastructure as well as a general rise in online spending, in particular gambling.
Optimal Payments’ statement moved Jones to bring forward his projections by two years, and he now predicts a 26 per cent rise in revenues this year to $227m.